The Chinese are already spending on luxury goods, on beer or sports equipment not yet

By: Trademagazin editor Date: 2020. 09. 02. 11:08

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Chinese consumers mostly buy luxury handbags, cosmetics and health-preserving products as life in the country is returning to normal as the epidemic subsides – origo wrote after Bloomberg. However, they hardly spend on sports equipment and beer and do not go to restaurants.

There is an uneven recovery in Chinese retail after the pandemic has passed. Due to severe restrictions lasting for several months and the almost complete absence of this year’s holiday season, some consumers have spent their money primarily on buying higher-end products. The luxury goods are sought after, which affects roughly two dozen companies very favorably, especially those that previously based their growth on the pre-pandemic recovery in demand in the Chinese market. (origo)