Skip to content
Subscriber Only

China Luxury Spend Seen to Jump 30% This Year in Industry Relief

Operations at Ponhu As Chinese Shoppers Turn To Second-hand Luxury Platforms
Photographer: Giulia Marchi/Bloomberg

Chinese demand for luxury goods is projected to grow as much as 30% this year as high-income mainland shoppers drive the country’s post-pandemic economic rebound.

It’s the only bright spot for the luxury industry, which is otherwise poised to see worldwide spending shrink 45% in 2020 as Europe and the U.S. continue to battle the coronavirus ahead of a feared winter wave of infections.