As more luxury goods companies experience sales declines, one contributing factor is that wealthy Chinese consumers are no longer buying these products. We spoke to China ecommerce accelerator Azoya to find out more…

Over the past year, there has been a noticeable pattern of Chinese consumers not spending as much as they once did on luxury products from European brands.

Last week, LVMH reported​ its half year sales results for 2024, which highlighted that some of the business’ flagship brands (especially in the fashion and wine & spirits categories) have seen dramatic sales slumps due to this.

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