China Will Help The World'S Luxury Market To Reverse Its Decline.

Recently, international consulting company

According to the study, Chinese consumers will probably increase the world's luxury market by 2%-3% to 295 billion euros by 2020.

According to Russian media reports on May 25th, the study predicts that the market will grow 2%-3% to 2800-2950 billion euros by 2020, which will benefit from the increase in the proportion of Chinese consumers.

Analysts estimate that Chinese consumers will account for 34% of global luxury consumption in 4 years.

The study

Claudia D'Arpizio said: "in the foreseeable future, the luxury market will continue to slump, and all eyes will be focused on the mainland of China, which is the key area to revitalize the world's luxury market."

According to the study, nearly 50 million of the consumers in the market will be born after 1981, and they will become an important part of China's middle class.

At the same time, the younger generation will spend more money than the previous generation before the implementation of China's family planning policy.

Reported that the world luxury market in 2015, the actual growth of only 1% to 253 billion euros.

Analysts predict that the trend will continue throughout 2016.

After three consecutive years of decline, China

Last year showed slight signs of recovery, especially in the mainland (2% growth).