Luxury Goods Retail Sales in Asia-Pacific (APAC) Will Reach US $134.9 Billion by 2019, Growing at a CAGR of 7.0% During 2014-2019
However, the economic slowdown in China reduced Chinese spending on luxury goods, resulting in a decline in sales in China in 2014, and the slow growth of luxury retail sales across the region. Strategizing is necessary to sustain in challenging environment. Luxury retailers are slashing prices to attract shoppers while government is exempting taxes and relaxing visa to increase tourists spending.
View full press release