CXG集团：2025年中国奢侈品客户情绪研究报告：趋势解读与未来应对（英文版）

The Chinese luxury market, valued at approximately CNY 800 billion (USD 110 billion) in 2025, has experienced significant fluctuations in recent years. After a 10% contraction in 2022 due to pandemic-related lockdowns, the market rebounded with 15-20% growth in 2023, only to face an 18-20% decline in domestic luxury spending in 2024. According to Bain & Co’s most recent estimates the global luxury industry is expected to experience a 2-5% decline in sales revenues due to increased turbule