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Chinese Shoppers Overtake U.S. as Top Luxury Buyers

Chinese consumers have overtaken U.S. shoppers this year to become the world’s biggest buyers of luxury goods, accounting for 25 percent of global sales through purchases at home and overseas, consultancy firm Bain & Co. said.

U.S. consumers now account for one-fifth of the world’s luxury sales, followed by the Japanese shoppers at 14 percent, according to a report released by Bain today.