Forecasted distribution of luxury spending China 2021, by consumer type
Forecasts showed that the total luxury consumption in China would reach 266 billion yuan in 2021, and more than 80 percent of the total consumption was contributed by top luxury consumers and high luxury consumers. Low luxury spenders, referring to consumers who spent less than 10,000 yuan a year on luxury goods, accounted for 55 percent of the total luxury consumer population but only contributed to seven percent of the total sales.