China Luxury Focus: Wine And Champagne Winning Over Consumers

摘要

BMI View:The Chinese consumer will continue to play an integral role in the global luxury market, as rapidly rising incomes in the world's most populous nation drives demand for high-end goods and services. Having seen a recovery in spending by the domestic Chinese luxury consumer in 2017, we believe 2018 will be a year of stabilisation, characterised by positive sustainable growth, as efforts aimed at stimulating domestic consumption support the Chinese luxury sector. We highlight wine and champagne as the luxury segment to watch in 2018. It remains underpenetrated compared to other sectors, such as fashion and watches and jewellery, yet is in strong demand, as consumer preferences become more sophisticated and dining out proves increasingly popular.