Hong Kong forecast
Ruder Finn, one of the world’s largest independent public relations firms, and IPSOS Group, the third largest market research company in the world, have released the sixth edition of the 2015 China Luxury Forecast, providing analysis of key trends in the luxury sector in mainland China and Hong Kong.
The report reveals that overall market dynamics are unchanged and consumer confidence remains high, attributing the slowdown observed by many luxury brands in the China market to a shift in the spending patterns of Chinese luxury shoppers. Travel is now the number one category of luxury for Chinese consumers, and spending by Chinese travelers is expected to drive more growth in luxury markets outside China. The rise of e-commerce represents both the next major challenge and opportunity for luxury brands.
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