Retail
September 10, 2021
Rising incomes, dynamic lifestyle aspirations, and high consumer confidence have helped boost the China market. But there’s another emerging factor: consumer credit. Image courtesy of Apple
By Glyn Atwal
China’s luxury market continues to deliver positive returns and outperform market analyst expectations.
{"ct":"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","iv":"6a5f9a66675f7ee374db7e9bb33f4ee2","s":"87bb29a1a6b32427"}
Share your thoughts. Click here