Futugo team for the last 2 years was doing in-house research on the luxury market and would like to share the most important takeaways.
Luxury market overview
Luxury spending worldwide is espected to reach $446 Billion by 2025 and we see a disruptive market movement in the following years. The luxury market is in transition, many potential customers in the Asia market will join in the following 4 years. By 2025 China will become the world's largest luxury market acounting for 40% of the global expenditure on luxury goods. There will be 65 million people of China’s affluent class (households earning above $3,900 per month). The majority of them, about 70% in fact, will be doing their luxury spending overseas - which will make $178 Billion luxury spending only from China.
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