Travel

Chinese consumers are buying more luxury goods during the pandemic - but they're shopping closer to home, and European brands could feel the pinch

1 day ago   |   By Business Insider

Summary List Placement
The pandemic hasn't slowed consumer spending on luxury goods - at least not in China.
Three in 10 Chinese consumers spent more than usual on high-end retail between January and July, a poll by UBS Evidence Lab found. This is despite global luxury sales in the first half of 2020 being down around 30%, according to Daniel Zipser , senior partner at McKinsey & Company.
Prada, Dior, and Gucci all reported rising sales in China in 2020, while revenues in other markets often stagnated or even dropped.
Chinese consumers are spending a bigger proportion of their money on...
Read more ...

 


Search by Tags

   Travel      Sale      Travels      Poll      Places      Companies      China      Marketing      Buy      Luxury      Ads      Company      Polls      Market      Europe  


In a leaked memo, Google CEO Sundar Pichai calls for employees to keep their...

In a leaked memo, Google CEO Sundar Pichai calls for employees to keep their focus amid a new antitrust lawsuit: 'Keep doing what you're doing'

Summary List Placement The Department of Justice has hit Google with a lawsuit that accuses the company of abusing its monopoly to give itself an unfair advantage in search and... Read more ...

The DOJ is hitting Google with its long-awaited antitrust case today

The DOJ is hitting Google with its long-awaited antitrust case today

Summary List Placement The Department of Justice will file its antitrust case against Google on Tuesday, officials told the Wall Street Journal . The officials said the DOJ's... Read more ...

Housing Starts at 1.415 Million Annual Rate in September

Housing Starts at 1.415 Million Annual Rate in September

From the Census Bureau: Permits, Starts and Completions Housing Starts: Privately-owned housing starts in September were at a seasonally adjusted annual rate of 1,415,000. This... Read more ...

UK's Johnson imposes tough virus restrictions on Manchester

UK's Johnson imposes tough virus restrictions on Manchester

LONDON - British Prime Minister Boris Johnson imposed strict coronavirus restrictions on England's second-largest urban area Tuesday, after talks with officials in Greater... Read more ...

'Stronger than ever': Here's what 4 Wall Street banks expect from Netflix's...

'Stronger than ever': Here's what 4 Wall Street banks expect from Netflix's 3rd-quarter earnings report

Summary List Placement Netflix is set to report third-quarter earnings Tuesday afternoon, offering investors the latest look at how its subscriber growth has held up after... Read more ...

How to ‘watch' NASA's OSIRIS-REx snatch a sample from near-Earth asteroid Bennu

How to ‘watch' NASA's OSIRIS-REx snatch a sample from near-Earth asteroid Bennu

NASA's OSIRIS-REx probe is about to touch down on an asteroid for a smash-and-grab mission, and you can follow its progress live - kind of. The craft is scheduled to perform... Read more ...

Early votes in Texas have already surpassed the total number of ballots cast...

Early votes in Texas have already surpassed the total number of ballots cast statewide for Trump in 2016

Summary List Placement Early voting in Texas only started a week ago, but the Lone Star State already leads the US in turnout. In fact, more Texans have now cast their ballots... Read more ...

JPMorgan says US election odds are narrowing, making a contested result that...

JPMorgan says US election odds are narrowing, making a contested result that could hamper stimulus and hurt stocks more likely

Summary List Placement Democratic presidential nominee Joe Biden's shrinking lead in betting markets suggests a contested election is becoming more likely, JPMorgan strategists... Read more ...

McConnell says any Pelosi-Mnuchin deal would get Senate vote

McConnell says any Pelosi-Mnuchin deal would get Senate vote

WASHINGTON - Senate Majority Leader Mitch McConnell said Tuesday that he'll schedule a vote if House Speaker Nancy Pelosi and the Trump administration are able to seal an... Read more ...

Google is expected to counter the DOJ's historic antitrust lawsuit with...

Google is expected to counter the DOJ's historic antitrust lawsuit with claims that it's misunderstood and faces plenty of competition

Summary List Placement Google is gearing up for an antitrust battle that could revolutionize how tech giants function. On Tuesday, the United States Department of Justice filed... Read more ...