Blog Information

• Posted By : dean ambrose
• Posted On : Mar 29, 2023
• Views : 69
• Category : General
• Description : The China luxury market growth is expected to exhibit a CAGR of 5.50% during 2022-2027

Overview

• According to the latest report by IMARC Group “China Luxury Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“. The China luxury market growth is expected to exhibit a CAGR of 5.50% during 2022-2027. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

  Luxury goods and services refer to non-essential but desirable products that are commonly related to wealth and exclusivity. They are usually of good quality, expensive, intended to appeal to people in a high social class, etc. Luxury goods and services offer great value. They consist of luxury automobiles, hospitality services, and food and beverages from high-end dining that provide comfort and elegance to the customers. These products assist in increasing self-esteem, confidence, and social standing and offer comfort and elegance. Luxury goods and services generally depend on marketing and promotions for communicating brand values.

  Request for a free sample copy of this report: https://www.imarcgroup.com/china-luxury-market/requestsample

  China Luxury Market Trends:

  The inflating disposable income levels of individuals are primarily augmenting the China luxury market. Furthermore, the increasing consumer inclination towards spending on lavish items, including designer clothes, shoes, cars, and the latest automobiles, is propelling the market growth. Apart from this, the escalating demand among the millennial population for expensive perfumes and cosmetics to boost confidence and enhance appearance is acting as another significant growth-inducing factor. Moreover, the introduction of sustainable products that are manufactured from environmentally friendly raw materials, such as plant-based leather derived from pineapples, and can be used for producing jackets, handbags, footwear, etc., is also bolstering the market growth. Besides this, the rising penetration of e-commerce facilities, extensive investments by numerous luxury brands to expand their presence across the country, and the growing popularity of social media platforms are further catalyzing the market growth. Additionally, the widespread adoption of technology-embedded items and the development of upscale malls are expected to fuel the China luxury market in the coming years.

  Report Segmentation:

  The report has segmented the market into the following categories:

  Breakup by Category:

  • Travel and Hotel
  • Cars
  • Personal Luxury Goods
  • Food and Drinks
  • Others

  Breakup by Gender:

  • Male
  • Female

  Breakup by Distribution Channel:

  • Mono-Brand Stores
  • Multi-Brand Stores
  • Online Stores
  • Others

  Breakup by Region:

  • Guangdong
  • Jiangsu
  • Zhejiang
  • Henan
  • Sichuan
  • Shanghai
  • Others

  Competitive Landscape:

  The competitive landscape of the industry has also been examined along with the profiles of the key players.

  Ask Analyst for Customization and Browse full report with TOC & List of Figure: https://www.imarcgroup.com/china-luxury-market

  Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

  If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

  About Us

  IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

  IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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