Is There Any Hope That The Luxury Market Will Recover Next Year?

Foreign media said that when the personal luxury market hit bottom in 2016, it should resume growth next year, driven by the recovery of market demand in the US and China.

According to Reuters, sales of luxury goods will increase by around 1% this year at a constant exchange rate, up from 1.5% in 2015.

The company's Industry Outlook report is widely regarded as a barometer of authoritative and highly concerned industry trends.

"I think this year may be a low point for the industry."

Claudia d'Arpizio, the lead author of the Bain partnership and luxury industry research, told Reuters.

In recent weeks,

The negative news of the industry is constantly coming out, but Bain took the lead in making a quantitative forecast of the deterioration of the industry's business situation this year.

Consumers in the US market are in a wait-and-see stance, which means that the US market demand is expected to recover next year once the US presidential election is over.

The strength of the dollar also frustrated tourism shopping activities.

The company also said that the demand for luxury goods in mainland China will be improved with the narrowing of the price gap between China and Europe and the inhibition of China's new tax measures and customs supervision measures on overseas shopping activities.

China and Europe

The spread has narrowed to an average of about 35%, and will narrow to about 25% in the near future.

More than a year ago, the luxury price difference between China and Europe reached a peak of around 70%.

Over the next five years,

The annual increase will be between 2% and 3%.