China Stimulus Fails to Convince Consumers to Buy Luxury Goods

The video discusses the decline in China's luxury market, highlighting a 20% drop in sales, bringing the market back to 2020 levels. It examines the performance of different product categories, noting that beauty fared better than jewelry and watches. The discussion also covers changes in consumer behavior, with more luxury purchases happening abroad due to travel and price sensitivity. The impact of gray market activities and regional market comparisons, particularly in Europe and Hong Kong, are explored. The video concludes with an outlook for the luxury market and strategies for brands to engage with consumers effectively.

How has the profile of tourists in Hong Kong changed since 2019?

What is the outlook for the luxury market in 2025 according to the discussion?

What advice is given to luxury brands for engaging with their clientele?