China has retained its position as the top buyer of luxury items as it was responsible for 46 percent of global sales in 2014.
China’s domestic consumption of luxury goods totaled 25 billion USD last year; the figure is actually 11 percent down from the previous year, due in part to the government’s anti-graft drive that has seen officials’ purchases scrutinized very closely by the media.
Consumption overseas grew by 9 percent however, to 81 billion USD, meaning global consumption was up 4 percent overall, at 106 billion USD.
Source: thepaper.cn
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Keywords: Chinese People Bought 46 Percent of Luxury Goods Globally in 2014
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Chinese will buy foreign luxury goods but are against western influence. What a bunch of hypocrites!
Feb 02, 2015 21:07 Report Abuse
Husband: 'Honey, you gotta work harder in spending that couple of billions spare changes in the basement. The trucks are coming tomorrow and we are running out of space!' Wife:'Aija, you have no idea how tough my life is, the way my friends and I are spending we would be responsible for 64% of global luxury goods sales in 2015!'
Feb 02, 2015 20:11 Report Abuse
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