The Luxury Market: Consumers Nationalities
The market of luxury goods is wide but which region in the world is the main client for all the luxury brands?
The personal luxury market has been beated up by weaker demand in China and Hong Kong, said the annual report from consultancy Bain & Co. Chinese consumers account for 31% of global luxury sales, followed by US consumers at 24% and Europeans at 18%.
One interesting fact is that about 80% of Chinese consumers do most of their purchases abroad.
Due to that, several fashion brands have been focusing on Chinese market but they also have lost some of their European clients because of their high prices.