Bain: this year the global luxury sales growth slowed sharply

Bain consulting company and Italy luxury Altagamma association released research report says, because China and European consumers control expenditure and worry about the effects of the global economy, http://www.shoxcheap.org this year the global luxury market sales growth slowed sharply.

The report pointed out that Chinese consumers had already overtaken Japan, the United States and European consumers, as the world’s largest luxury buyers. According to the fixed exchange rate meter, this year the Chinese luxury market will increase by 8%, the scale up to 15 billion euros ($19 billion), and the increase of 30% last year. This year America in the luxury goods market is expected to strong growth, by the end of the year revenue is expected to grow by 13%.

The report forecasts, according to the fixed exchange rate meter, this year the global luxury market sales will increase by 5%, a 13% in 2011 decreased obviously. Luxury sales slowdown in the early signs in earlier this year appeared in the industry as the main engine of growth in China. China’s leadership will shift, together with the government to take measures to control inflation, lead to Chinese consumers of luxury spending cuts.

Bain in milan partner to where peach Mr Said China needs to luxury slowdown in May in the first quarter of 2013 continue until completion of the government.

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According to Reuters online reports, the report says, the European debt crisis, this year the European luxury sales will increase by 5%, compared to last year growth is reduced by half, including Italy and Spain slow the largest amount.

Bain prediction, 2013-2015 period, the global luxury market according to the fixed exchange rate JiNian growth is 4-6%, the market scale will be more than 250 billion euros.

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