Source: Insider Intelligence | eMarketer, June 2023 - October 2023
Note: includes items such as ready-to-wear designer clothing and footwear, bags and accessories (including eyewear), jewelry and watches, and cosmetics and fragrances that meet the definition of luxury; excludes automobiles, travel and leisure services, boats and yachts, fine art and collectibles, fine wines and spirits, and consumer electronics; includes goods sold in owned stores, department stores, and outlets, as well as travel retail, through online and offline channels; excludes secondhand sales of luxury goods
Additional Note: Luxury items are products that are priced at a premium and feature a higher level of quality, craftsmanship, customer service, exclusivity, and/or scarcity relative to the majority of goods in a given product category. Apparel and accessories includes clothing, footwear, and accessories. eMarketer benchmarks its China total retail sales figures against data from the National Bureau of Statistics China, for which the last full year measured was 2021.
Methodology: Estimates are based on the analysis of data from other research firms, historical trends, reported and estimated revenues from major retailers, consumer buying trends, and macro-level economic conditions.