Chinese shoppers will make up 40% of all luxury consumers by 2030. Gen Z and Gen Alpha luxury spending is expected to grow three times faster than other cohorts. India’s luxury market is forecasted to expand to 3.5 times today’s size by 2030. The global luxury market in 2023 will be more resilient to recession than during the 2009 financial crisis due to a larger consumer base and better balance across regions. All this in the Bain & Co. and Altagamma report, commented by Jing Daily.
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