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Luxury Sales Slowdown: China Struggles, U.S. Hopes Rise

1/14/2025

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Summary

Story summary

McKinsey & Co reports a slowdown in luxury sales, especially in China.
Demand surged from 2019 to 2023, fueled by high-end consumers post-COVID.
Chinese luxury spending has declined, contributing to the demand slowdown.
The U.S. market may grow due to falling inflation and rising disposable income.
China's recovery is not expected until late 2025.

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Story summary

McKinsey & Co reports a slowdown in luxury sales, especially in China.
Demand surged from 2019 to 2023, fueled by high-end consumers post-COVID.
Chinese luxury spending has declined, contributing to the demand slowdown.
The U.S. market may grow due to falling inflation and rising disposable income.
China's recovery is not expected until late 2025.