Luxury Sales in China Grew 12% in 2009

Spending Likely to Reach Almost $15 Billion in Five Years

By Published on .



HONG KONG (AdAgeChina.com) -- Sales of luxury goods grew 12% in 2009, to $9.6 billion, accounting for 27.5% of the global market, according to Bain & Co. In the next five years, China's luxury spending will increase to $14.6 billion, making it the No. 1 luxury market globally. In 2009, China overtook the U.S. to become the world's second-largest luxury-goods market, behind Japan. Roughly half of the luxury goods purchased in China are bought as gifts.


Return to the Ad Age China home page here


Most Popular
In this article: