Luxury market still on a high

Rich consumers not deterred by headwinds, with millennials taking a significant role

Chinese rich consumers' appetite for luxury products remained robust this year, with strong growth in purchasing power among the younger generations, despite global economic uncertainty, according to an industry survey.

Ruder Finn and Consumer Search Group's joint 2019 China Luxury Forecast surveyed 1,075 consumers in more than 130 cities on the Chinese mainland and 310 consumers in Hong Kong.