Source: http://wallstreetcn.com/node/68634 According to Bain, as more and more people are shopping overseas and the government to strengthen anti-corruption efforts, the Chinese luxury consumption is expected to grow only 2 percent this year, as in 2000 Since the lowest level. The number of new store openings luxury also fell by one third. Bain released a report yesterday that it expects 2013 full-year Chinese luxury spending grew 2 percent, far below 7% last year. Bain is expected to grow in 2014 and this year will be flat. The report said, because the Chinese government to strengthen the fight against corruption needs a lot of gifts, Swiss watches, expensive liquor and men wearing class luxury consumption plummeted. tokidoki barbie According to Bain expects luxury watch consumption fell by 11%. Swiss Watch Industry Association data also show Richemont Group and Swiss watch exports in the first 10 months of watches to China fell 14%. Cayenne Gucci Group's third quarter sales fell, Louis Vuitton Moet Hennessy tokidoki barbie Group's perfume, cosmetics sales also slowed. Consumers turn to overseas sourcing is an important cause of declining sales. The report shows that two-thirds of Chinese consumers of luxury consumption currently comes from abroad. China since last year surpassed the U.S. as the world's largest buyers of luxury goods, accounting for 29% of the total purchase luxury goods worldwide. Female consumers' purchasing power for luxury goods is growing, women's cosmetics and footwear luxury growth this year will reach 8-10%. Bain tracked 20 luxury brands to set up new stores in China this year, 100, this figure also fell by a third compared with last year.
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