WARC just reported that a sustained boom in demand for high-end goods across China means the country has now overtaken the US to become the world's largest luxury market - according to Bain & Company.
The consultancy estimated that China yields roughly 27% of spending on luxury goods and services globally today, versus around 20% for the US. By 2015, the Asian nation is likely to deliver 33% of sales, the China Daily reports.
Just as much of Western Europe and the US is descending into the culture of food handouts and utility products there are many in China who are driving the world's luxury market. Weird of what? Dick Stroud