Question of the WeekHow Much Do Chinese Consumers Contribute to the Global Luxury Goods Market? Coresight Research February 17, 2020 QUESTION OF THE WEEK: How Much Do Chinese Consumers Contribute to the Global Luxury Goods Market? Chinese consumers accounted for 35% of total worldwide sales of personal luxury goods in 2019, up from 33% in 2018; Bain forecasts this share to reach 46% in 2025. Using Bain data, Coresight Research estimates that 70% of the total luxury spend by Chinese consumers in 2019 was outside of China. This document was generated for Other research you may be interested in: Agentic Commerce—The Impact on Retail Media and How Retailers Should RespondHead-to-Head in Beauty Retailing: Sephora vs. Ulta BeautyUS Tariffs: Three Actions for Risk Mitigation and Long-Term PositioningThree Data Points We’re Watching This Week, Week 10: Inflation, Tariffs and Consumer Sentiment
