- Since the reopening of China’s border in January 2023, Mainland Chinese shopper recovery has been steadily improving at 33 in Continental Europe and 35 in Asia Pacific, vs. 17 and 26 respectively in January (net of Chinese New Year seasonal impact).
- Chinese consumers have cut back on global luxury spending by around 33% over the last three years but have saved an impressive €2.1 trillion in the process, so there are expectations for a solid pent up demand for luxury goods overseas once airline capacity resumes.
- Given that luxury goods are 15–30% more expensive in Mainland China than elsewhere, those...
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