31 Dec '16, 11am

5 China #Luxury Market Predictions for 2017

4. The anti-corruption campaign lives on. With Xi Jinping approaching his five-year mark of an expected 10, there will be no letup in China’s anti-corruption campaign that coincided with a plunging luxury sales growth rate when it began in 2012. In a report on a Politburo meeting, Xinhua reported on Wednesday that the anti-corruption campaign “has gained crushing momentum,” and stated that “in 2017 existing corruption should be reduced, and any rise in corruption contained” with a “high-voltage” crackdown on “undesirable work styles and corruption.” For the luxury industry, this simply means that brands that didn’t rely on official “gifting”-related sales before the campaign will continue to thrive off marketing efforts geared toward regular consumers purchasing for themselves, family, or friends.

Full article: https://jingdaily.com/5-china-luxury-market-predictions-f...

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