Bain & Company's Xing on China Luxury Market

The video discusses the luxury market's outlook for 2023, highlighting factors affecting travel resumption, such as geopolitical tensions and visa issues. It analyzes China's market trends, noting a strong pre-2022 growth and expected recovery post-COVID. Consumer behavior changes, particularly the shift to digital clienteling, are explored. Current luxury product preferences are identified, with jewelry and beauty leading. The impact of Chinese shoppers on global markets is discussed, along with travel and pricing factors. Finally, potential risks in the market reopening, like pricing gaps and service consistency, are addressed.

What role does consumer confidence play in the luxury market's recovery?

In what ways do you think the luxury market will adapt to the return of Chinese consumers?