March 9, 2025
Luxury retailers are increasingly drawn from high-end shopping malls across major Chinese cities in mainland China, reflecting broader trends as the real estate market struggles. According to a recent report by the South China Morning Post, global luxury brands are retreating faster as consumer spending is weakening.
Kering, a French luxury group that owns Gucci, recently closed two locations in Shanghai after more than a decade. These were located in Lille Department Store and New World Daimur near Jingan Temple on the bustling Nanjing Road. Meanwhile, Prada left the Hong Kyao International Airport location after two years of stint. These closures add to the patterns seen last year by ten luxurious outlets featuring brands like Louis Vuitton, Chanel, Tiffany & Co and Bulgari, which shut down according to data on Linkshop.com.
Jelena Sokorova, senior equity analyst at Morningstar, said sales in mainland China have fallen sharply, resulting from a shift in local consumer sentiment as well as a shift in shopping preferences that Chinese consumers support overseas purchases. The split of local shopping at 60:40 during the pandemic has been reversed.
LVMH also declined to comment despite Kering and Prada being silent about these developments. Beijing recognizes the serious situation and prioritizes “increasing consumption” as the main focus of the National People’s Assembly. According to data from the Indexbox platform, state subsidies for consumer goods have doubled to 300 billion yuan to stimulate the market.
Source: Indexbox Market Intelligence Platform
1. Introduction
Make data-driven decisions to grow your business
Report Explanation Research Methodology and AI Platform Data-Driven Decision for Your Business Glossary and Specific Terminology
2. executive summary
A quick overview of market performance
Important Research Results Market Trends This chapter is available only in the Professional Edition
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3. Market Overview
Understanding the current state of the market and its outlook
Market-scale consumption based on country market forecasts through 2030
4. Most promising products
Find new products to diversify your business
This chapter is available only in Professional Edition
professionalTop products to diversify your business bestseller products most profitable products for export most consumed products
5. Most promising supply countries
Select the best country to establish a sustainable supply chain
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professionalThe best countries to sourise your products are the top exporters of the best producers and low cost exporters
6. Most promising overseas markets
Choose the best country to boost your exports
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professionalTop Overseas Markets to Export Your Products Top Consumer Market Unsaturated Market Top Import Market Most Profitable Market
7. Global production
Latest trends and insights into the industry
Country production volume and value production
8. Global imports
The biggest importers in the market and how they succeed
Imported by import prices for each imported country from 2012 to 2024
9. Global exports
The biggest exporters in the market and how they succeed
Exports by country export price from 2012 to 2024
10. Profiles of major producers
The largest producers and their profiles on the market
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11. Country Profile
The largest market and its profile
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professionalUS ChinaJapanGermanyGermanyUKFranceFranceBrazilItalianRussiaRussian FederationKazakhstanAlgeriaCzech RepublicQatarPeluruManiaVietnam
List of tables
Key findings for 2024, physically, market value from 2012 to 2024, market value from 2012 to 2024, consumption per capita, production from 2018 to 2024, physical conditions, country, imports from 2012 to 2024, physical conditions, imports from 2012 to 2024, value conditions, country, imports from 2012 to 2024, imports from 2012 to 2024, export prices from 2012 to 2024, export prices from 2012 to 2024, export prices from 2012 to 2024, export prices from 2012 to 2024, export prices from 2012 to 2024, export prices from 2012 to 2024, export prices from 2012 to 2024
List of diagrams
Market volume, physically, market value from 2012 to 2024, consumption by country, market value forecast for 2030 to 2024 2030 Products: Market size and growth, market value forecast by type, type Products: Average per capita product, Type Products: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and Growth: Exports and 24 years of production, Value terms, 2012-2024 production, Country production, 2024 production, Physical conditions, 2012-2024 physical conditions, 2012-2024 imports, 2012-2024 imports, 2012-2024 imports, 2012-2024 imports, 2012-2024 imports, 2012-2024 imports, 2012-2024 imports, 2012-2024 imports, 2012 imports, Exports from 2012-2024, physically, exports from 2012-2024, value terms, exports from 2012-2024, physical terms, country, exports from 2024, physical terms, exports from 2012-2024, value terms, exports from 2012-2024, value terms, exports from 2012-2024, export prices, 2012-20244
