This article highlights Western China as a "fast-emerging powerhouse" in the global retail market, thanks to growing spending power of its middle class, support of the local administration, and central government's drive to develop the area. Wharf has been one of the most successful partners in Sichuan. The report also notes that China's consumer market is expected to grow by more than 10 percent annually from 2016 through 2025, with sales reaching $28.6 billion this year. Christina Hau, general manager of Wharf holdings, the group behind the region's well-recognised IFS mall, said western Chinese cities are attractive as the luxury goods market is less saturated than in first-tier cities but spending power is still strong: "We believe these places will keep growing, and there is always more room for luxury".
This article highlights Western China as a "fast-emerging powerhouse" in the global retail market, thanks to growing spending power of its middle class, support of the local administration, and central government's drive to develop the area. The report also notes that China's consumer market is expected to grow by more than 10 percent annually from 2016 through 2025, with sales reaching $28.6 billion this year. Christina Hau, general manager of Wharf holdings, the group behind the region's well-recognised IFS mall, said western Chinese cities are attractive as the luxury goods market is less saturated than in first-tier cities but spending power is still strong: "We believe these places will keep growing, and there is always more room for luxury".