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Chinese Consumers Drove Lion’s Share of 2020’s Luxury Growth

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China—the only major economy to register economic growth last year—accounted for two-thirds of luxury spending growth in 2020, according to data from the NPD Group. International travel restrictions naturally led to a significant pivot toward domestic spending. Of Chinese luxury consumers’ $12.29 billion in direct retail spending, $9.83 billion occurred in mainland China. This represented…

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