Please wait while the search results are loading...

Luxury Apparel and Accessories Face a Slower Market in China, Business and Industry Trends Analysis

The economic crisis of 2008-2009 hit the global luxury clothing and accessories industry hard.  A notable exception to the luxury goods retail meltdown during the global economic recession was China, where many high-end stores enjoyed brisk sales as China’s economy continued to expand.

However, a sea change occurred in China in early 2013, due to reforms started by the nation’s newly installed president, Xi Jinping.  Conspicuous consumption, ostentation and the giving of expensive gifts to officials in return for favors were suddenly out of fashion, amid a well-publicized crackdown on graft and corruption.  This created a poor climate for the Chinese luxury goods market.

By late 2015, analysts at Capital Economics were reporting minor upswings in sales of jewelry, gala banquet catering and high-end liquors.  New government rules were introduced in 2015 relating to the fight against corruption which may ease the crunch in luxury goods sales.  Also, sales taxes are being modified to encourage consumer purchases within China, while ecommerce is booming.



A Representative List of Organizations that Have Used our Research and Products:


I’m amazed at how much information is available and the various ways to access it. This will be a major resource for our serious job seekers.

Career Services, Penn State University

Plunkett Research Online provides a great ‘one stop shop’ for us to quickly come up to speed on major industries. It provides us with an overall analysis of the market, key statistics, and overviews of the major players in the industry in an online service that is fast, easy to navigate, and reliable.

Wendy Stotts, Manager, Carlson Companies

I really appreciate the depth you were able to get to so quickly (for our project). The team has looked through the material and are very happy with the data you pulled together.

Hilton Worldwide, Marketing Manager

We are especially trying to push Plunkett since all of our students have to do so much industry research and your interface is so easy to use.

Library Services, St. John’s College

We are especially trying to push Plunkett’s since all of our students have to do so much industry research and your interface is so easy to use.

Gary White, Business Materials Selector, Penn State University

Your tool is very comprehensive and immensely useful. The vertical marketing tool is very helpful, for it assists us in that venue, as well as targeting customers’ competition for new sales…The comprehensive material is absolutely fabulous. I am very impressed, I have to say!

Tammy Dalton, National Account Manager, MCI

The more I get into the database, the happier I am that we’ll have it–REALLY happy!!! Between the quality and affordability of your product, its appeal to and value for our users, and the inestimably ethical and loyalty-guaranteeing conduct of your business, I will always have more than sufficient praises to sing for Plunkett Research.

Michael Oppenheim, Collections & Reference Services, UCLA

Plunkett Research Online is an excellent resource…the database contains a wealth of useful data on sectors and companies, which is easy to search and well presented. Help and advice on how to conduct, export and save searches is available at all stages.

Penny Crossland, Editor, VIP Magazine
Real Time Web Analytics