Charting the Rising and Collapse of the Global Demand for Luxury Goods #infographic

Charting the Rising and Collapse of the Global Demand for Luxury Goods #infographic

Will it come back into the sector? Or is it coming back as something different?

The global luxury goods industry – which includes cosmetics, clothes, and accessories – has been growing at a rate of 6 per cent since the 1990s.

The Chinese consumers can be attributed largely to the development of the personal luxury goods industry in recent years. Followed by Europe and the Americas, this global sector accounted for 90 per cent of overall sales growth in 2019.

Analysts claim China's younger luxury goods consumers particularly have considerable purchasing power, with an average spending of $6,000 (Yen 41,000) per person in pre-COVID times.

Charting the Rising and Collapse of the Global Demand for Luxury Goods #infographic

infographic by: www.visualcapitalist.com

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