Around the Net
Luxury Sales In China
- USA Today, Tuesday, January 17, 2012 11 AM
Luxury sales in the West are recovering from the global recession, but at a fraction of the rate of China's sales. China is now the second-largest market in the world for luxury goods, behind Japan, and it could become the largest as early as the end of this year.
Rising personal wealth is driving this trend. But so is gift giving: Personal and business gifts account for 25% of luxury goods sales in mainland China, consulting firm Bain & Co. estimates.
