Number of Chinese luxury consumers to grow by 30% ov - leatherbiz: Lea Leatherbiz

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Number of Chinese luxury consumers to grow by 30% over next decade

12/03/2012
An organisation called the China Luxury Institute has predicted that, within ten years, 30% of Chinese consumers will shop for luxury goods.

Cai Sujian, president of the organisation, has told local media that growth is being driven by more and more consumers becoming buyers of luxury items. He said that only 5% of the population bought high-end leathergoods and shoes and other luxury products at the moment, but that this would grow by between 25% and 30% per year over the next decade.

At current population levels, this growth would make the Chinese market for luxury goods a market of 390 million consumers.

 


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