• Wuhan Virus Hits Global Luxury Stocks, investors spooked by Tourism and Retail downturn

    28 days ago - By Luxuo

    According to Bain consulting, a confluence of brand efforts to narrow the price gap in Chinese domestic markets coupled with the Chinese government's efforts in reduction of import duties and stricter controls over grey markets - have led more Chinese consumers to make their luxury purchases in China, instead of traveling to regional shopping hubs: Hong Kong, Seoul, Tokyo or European cities. Chinese consumers made 27% of their luxury purchases in China in 2018, up from 23% in 2015, and this share is expected to increase to 50% by 2025.
    Globally, Chinese shoppers accounted for 90% of...
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