China Rediscovers Glitz in Luxury Goods
Customers wait in line at the Louis Vuitton store in the eastern city of Nanjing on Dec. 23. Last year, the fastest-growing luxury categories in China were the female-focused ones, such as cosmetics, womenswear and jewelry. Photo: Visual China
Chinese spending on personal luxury goods grew 20% in 2017, reversing three years of slowing consumption, according to a report by consultancy Bain & Co.
Reasons for the reversal include government policies to encourage domestic consumption and restrictions on “daigou” services — those in which a Chinese person living abroad buys items on someone else’s behalf and has them delivered to China.
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