1、The luxury market in Chinese mainland has slowdownover the last 12 months with a sharp decline of annualgrowth rate from 20%to 1%.However,it doesnt meanthat all segments of the market were static.In fact,different consumer segments spending change variedgreatly:“lightspenders”spentmuchlesswhile“medi

2、um and heavy spenders”continued to increasespending.Brands should pay attention to thesemarket trends.Besides,youngergenerationshavebecomeanincreasingly larger segment of luxury spenders.Lastyear,over half of overall luxury consumers was post-90s.This year,post-95s has risen,and they representover 5

3、0%of new consumers entering the market,withanother18%beingpost-00s.Webelievethreeconsumer segments will become the main drivers ofmarket growth in the future,including medium andheavyspenders,youngerconsumersandmaleconsumers.In terms of consumption behavior,we observed thatluxuryconsumersincreasingl

4、ycareaboutvaluepreservation and hence prefer to buy classic styles&products.They care more about whether a luxury itemcan hold its value during time of economic uncertainty.We also observe the emergence of luxury lifestyleproductslikehigh-endhomewareproductsandoutdoor gears.This report on the digita

5、l trends of Chinas luxurymarket,co-published by Tencent Marketing Insight(TMI)and Boston Consulting Group(BCG),aims toprovide businesses with insights on the luxury markettrends and dynamics in China.We hope that moreluxury brands will be able to better serve the needs ofChinese consumers and realiz

6、e sustainable growth inthe market.PrefaceConclusionsSpending varies significantly across different segments of consumers:light spender(300,000RMB spending a year)increased spending by 9%.Younger generations are becoming increasingly important:among new consumers,51%is post-95s and 18%is post-00s.Val