How is the luxury goods industry in China likely to develop in the coming years?

As the ratio of middle-class and affluent Chinese expands, the luxury goods market will grow apace through 2020. By 2013, Chinese consumers accounted for 47 percent of global luxury good sales, spending about US$102 billion for the year.

Today the strongest market sectors are watches; cosmetics, perfume and personal care products; and leather bags. While the use of e-commerce platforms for buying luxury goods remains somewhat limited in this respect, by 2020 this is likely to be much more common.