Story perspectives

Nanjing Surpasses Beijing: Luxury Market Shifts in China

1/29/2026

Summary

Story summary

Nanjing and Changsha are emerging as key luxury markets as China's middle-class consumers seek high living standards at lower costs.
Research indicates luxury spending in China’s second-tier cities has surpassed that in first-tier cities such as Beijing and Shanghai.
In 2024, Nanjing Deji Plaza became China’s top luxury shopping center, generating over 24.5 billion yuan in sales.
Brands including Burberry and LVMH are adapting their strategies to target these consumers.

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Story summary

Nanjing and Changsha are emerging as key luxury markets as China's middle-class consumers seek high living standards at lower costs.
Research indicates luxury spending in China’s second-tier cities has surpassed that in first-tier cities such as Beijing and Shanghai.
In 2024, Nanjing Deji Plaza became China’s top luxury shopping center, generating over 24.5 billion yuan in sales.
Brands including Burberry and LVMH are adapting their strategies to target these consumers.