The recent stock market crash isn't expected to have a significant effect on the luxury goods market as many Chinese see the stock market as a casino and therefore it does not affect their disposable income. Avery Booker, partner at Value Retail, said "luxury purchases have become a way of life for millions of Chinese shoppers, and broader macroeconomic trends generally won"t have an impact on younger consumers in particular".
The recent stock market crash isn't expected to have a significant effect on the luxury goods market as many Chinese see the stock market as a casino and therefore it does not affect their disposable income. Avery Booker, partner at China Luxury Advisors, said "luxury purchases have become a way of life for millions of Chinese shoppers, and broader macroeconomic trends generally won"t have an impact on younger consumers in particular".