Media OutReach

Mainland China’s Luxury Market Poised for Growth: Insights from MDRi’s 2025 Consumer Forecast

Published

12 months ago

13/12/2024

Forecast Projected Growth of Chinese Luxury Market in 2025: A Shift Towards Experience, Innovation, Chinese Brands and Sustainability

HONG KONG SAR – Media OutReach Newswire – 13 December 2024 – MDRi, a leading provider of business insights, today released its China Luxury Consumer Forecast 2025, presenting an in-depth analysis of luxury consumption trends in Mainland China and Hong Kong. The report highlights a market in transition, where Chinese consumers exhibit sophisticated preferences for experiences, domestic brands, sustainability, and innovation.

Despite the prevailing macroeconomic uncertainty and inconsistent growth across various luxury segments, the overall sentiment for luxury spending remains robust. The report reveals that 56% of Mainland Chinese luxury consumers plan to increase their spending in 2025, compared to only 48% in Hong Kong. This divergence is largely influenced by a more pessimistic outlook on Hong Kong’s economy, shaped by international monetary policies and geopolitical tensions.

Economic uncertainty continues to loom over Hong Kong, where 12% of luxury consumers intend to reduce their spending next year, compared to 9% in Mainland China. This cautious sentiment reflects broader concerns about the region’s economic stability.

In Mainland China, luxury spending is expected to be driven by high-end jewellery, handbags, and travel experiences, with nearly 60% of consumers planning to allocate more of their budgets to luxury travel. In contrast, positive sentiment is less pronounced in Hong Kong, where the luxury market is becoming increasingly polarized. Over 10% of consumers in each luxury category in Hong Kong plan to reduce their spending, showcasing a cautious approach, especially in categories like handbags (9%) and travel experiences (4%).

This report underscores the importance of understanding the evolving preferences of luxury consumers in both regions, as brands navigate a rapidly changing market landscape.

Simon Tye, CEO of MDRi, commented: “Mainland China is currently experiencing a dynamic shift in luxury market. Recent industry data has unveiled contrasting trends, with certain luxury conglomerates witnessing declines in Asia-Pacific revenues, while others have observed growth in parallel instances. This disparity prompts inquiries into the authentic sentiments of Chinese luxury consumers. Luxury brands should obtain deep understanding of the unique preferences, behaviour, and aspirations of consumers in these cities that are conducive to crafting highly targeted and resonant marketing strategies. The strong consumer demand for luxury watches, handbags, jewellery, and travel experiences positions these categories as key growth drivers for the industry. Brands that make consumer insights the foundation of their product development and go-to-market plans will be best positioned to solidify their leadership in these high-potential luxury segments; and agile brands that continuously monitor and respond to changing consumer preferences will be the ones to dominate these in-demand categories.”

The report identifies five key trends shaping the Chinese luxury market in 2025:

1. Luxury Lifestyle & Experiences

Mainland Chinese consumers are increasingly prioritising lifestyle-driven luxury, with 57% planning to boost spending on wellness, fitness, and luxury travel. Gen Z emphasises self-care and wellbeing, while Millennials seek exclusive, adventurous experiences that create lasting memories. Notably, wellness and spa treatments rank among the top items the youngest consumers (aged 21-25) in Mainland China plan to spend more on in the next 12 months (63%, ranking number 2 and just slightly below health and fitness activities (64%)).

2. Shopping Destinations

Mainland China’s Tier 1 cities, led by Shanghai, remain dominant luxury shopping hubs. However, Sanya is emerging as a rising destination, with 23% of Mainland Chinese luxury shoppers making purchases there in 2024, driven by duty-free policies. Hong Kong remains a luxury shopping destination for Tier 3 city shoppers but is losing appeal among Tier 1 consumers, who increasingly find comparable luxury experiences closer to home. Hong Kong’s attractiveness among lower-city luxury consumers could be partly attributed to the Chinese Government’s efforts in fostering Hong Kong’s tourism in these cities.

3. Preferences for Domestic Brands

National pride is driving a growing preference for domestic luxury, with 56% of Mainland Chinese consumers planning to buy more from Chinese luxury brands in 2025. Millennials, in particular, balance global prestige with domestic pride, driving demand for both French and Chinese brands, especially in watches and fashion. The success and influence of Chinese luxury brands have the potential to shape the future direction of the global luxury industry, setting new standards and pushing the boundaries of what luxury means in the years to come.

4. Sustainability and Second-hand Luxury

Sustainability is now a central value for Mainland Chinese consumers, with 85% stating it is important and 42% willing to pay a premium for sustainable luxury products. Younger luxury consumers (aged 21-25) are leading the charge in embracing the allure of second-hand premium products highlighting the rising environmental consciousness. Second-hand luxury is also gaining traction, with 59% of Mainland Chinese luxury consumers purchasing pre-owned items in 2024, particularly small leather goods and shoes. Younger consumers, especially Gen Z, view second-hand luxury as a way to express individual style rather than just a cost-saving option.

5. The Role of Technology and AI in Luxury

Mainland Chinese consumers are embracing tech-driven luxury, with 90% willing to pay a premium for innovative products. AI-powered personalisation is seen as a key enabler for tailored customer experiences, though concerns about its impact on exclusivity remain, with 66% expressing reservations about AI-driven mass customisation.

Driven by evolving consumer sophistication and upper-middle-class expansion, Chinese luxury consumers are increasingly globally mobile, technologically advanced, and discerning. With 42-47% of Chinese luxury consumption projected to occur abroad, Mainland China’s luxury market is setting global trends. Growth will be propelled by domestic brands, sustainability, and the rising influence of younger consumers.

Reflecting on 2024, Mainland China showed stronger growth in the luxury sector, with an average annual spend of RMB234,500, a 7% year-on-year increase. Spending in Tier 2 cities surged by 22%, outpacing Tier 1 cities. In Hong Kong, luxury spending rose modestly, with average expenditures increasing by 3% to HKD223,900. Significant growth was seen in high-value items like jewellery (+64%) and handbags (+66%), highlighting a preference for big-ticket purchases.

The survey was conducted from April to May 2024, with a sample size of 1,500 luxury consumers from Mainland China and 500 luxury consumers from Hong Kong. All respondents were required to have made purchases of luxury items and to have spent a minimum of 50,000 in their local currencies on luxury purchases within the past 12 months.

Simon said: “The Chinese luxury market is undergoing a profound transformation, largely influenced by the preferences of the younger generation, particularly Gen Z. This cohort is not only redefining luxury consumption but is also poised to reshape the global luxury industry. Their demand for personalization, wellness, and sustainability, combined with a strong inclination towards innovative Chinese brands, signals a departure from traditional luxury norms. As they prioritize exceptional experiences and meaningful connections over mere ownership, existing and new brands must adapt to these evolving expectations. By continuing to learn about their needs, building strong relationships with them and investing in personalized services and holistic wellness initiatives, luxury brands can foster loyalty and build lasting relationships with this discerning demographic, ultimately revolutionizing the industry.”

For a deeper dive of the report, please click here.

For further information, interviews, or comments, please contact [email protected].

Appendix
Categories Overview of Chinese consumers (Top 3 brand aware and brand purchased)

Luxury Watch

China		Hong Kong
Brand aware	Brand purchased	Brand aware	Brand purchased
Cartier ▲2%	Rolex –	Cartier ▲8%	Rolex ▲1%
Bulgari ▲2%	Omega ▲1%	Rolex ▲7%	Omega ▲1%
Rolex ▲4%	Cartier ▼4%	Omega ▼2%	Longines ▲10%

Luxury Jewellery

China		Hong Kong
Brand aware	Brand purchased	Brand aware	Brand purchased
Cartier ▼1%	Cartier ▲1%	Gucci ▲14%	Cartier ▲8%
CHANEL –	CHANEL –	Cartier ▲10%	CHANEL ▲8%
Bulgari ▲3%	Bulgari ▲2%	CHANEL ▲11%	Gucci ▲3%

Luxury Fashion

China		Hong Kong
Brand aware	Brand purchased	Brand aware	Brand purchased
CHANEL ▲5%	CHANEL ▲2%	CHANEL ▲11%	CHANEL ▲5%
Balenciaga ▼6%	Balenciaga ▼1%	Balenciaga ▲2%	Balenciaga ▲4%
Dior ▲2%	Dior –	Gucci ▲9%	Gucci ▲5%

Luxury Handbag

China		Hong Kong
Brand aware	Brand purchased	Brand aware	Brand purchased
CHANEL –	CHANEL ▼2%	Balenciaga ▲4%	CHANEL ▼1%
Balenciaga ▼1%	Balenciaga ▼1%	CHANEL ▲9%	Balenciaga ▲1%
Dior ▲1%	Dior ▲1%	Hermes ▲12%	Dior ▲6%

Beauty and Cosmetics

China		Hong Kong
Brand aware	Brand purchased	Brand aware	Brand purchased
Dior Beauty ▲2%	Estee Lauder ▲7%	Lancôme ▲9%	Shiseido ▲6%
Estee Lauder ▲3%	Lancôme ▲1%	Shiseido ▲5%	SKII ▲1%
Lancôme ▲4%	Dior Beauty ▲5%	SKII ▲9%	Lancôme ▲1%

Wine and Spirits

China	Hong Kong
Brand aware	Brand aware
Chivas ▲2%	Rémy Martin ▲6%
Rémy Martin –	Martell ▲4%
Hennessy ▼1%	Hennessy ▲6%

Consumer preferences of each luxury category

Luxury Category	Mainland Chinese Preferences	Hong Kong Preferences
Watches	– Prefer multifunctional and jewellery watches – 31% prefer Chinese-made watches – Value brand design	– Favor simple, everyday styles – 12% prefer Chinese watches – Consider resale value
	– Prioritize craftsmanship
Jewellery	– Favor yellow gold (55%) and diamonds (52%) – Value easy recognition	– Prioritize diamonds (61%) – Emphasize craftsmanship
	– Resale value influences decisions
Fashion	– Recognize CHANEL and Balenciaga as top brands – Prioritize quality of materials and comfort
Handbags	– Prioritize style and aesthetic appeal	– Emphasize brand awareness and material quality
Cosmetics	– Prefer international brands – 55% purchase through e-commerce platforms	– Favor Japanese brands
	– Prioritize ingredients and efficacy
Wine and Spirits	– Prefer Chinese Baijiu (56%) and high-end whiskey (56%) – Values brand awareness and taste	– Prioritize high-end whiskey (53%) and red wine (45%) – Values taste and cost-effectiveness
	– Increases in high-end whiskey purchases

Hashtag: #MDRi #SimonTye #ChinaLuxuryConsumerForecast #Luxury

The issuer is solely responsible for the content of this announcement.

MDRi

Based in Hong Kong and with operations in London and Singapore, MDRi is a leading provider of business insights, empowering organisations with data-driven advice to make informed decisions and drive growth.

Through advanced analytics, industry expertise, and innovative methodologies, MDRi uncovers strategic opportunities, mitigates risks, and helps businesses stay ahead in a rapidly evolving marketplace. With a commitment to excellence and client-centricity, MDRi is revolutionising the way organisations harness insights for success.

The Mishcon de Reya Group

The Mishcon de Reya Group is an independent, international professional services business with law at its heart, employing over 1450 people with over 650 lawyers. It includes the law firm Mishcon de Reya LLP and a collection of leading consultancy businesses that complement the firm’s legal services.

Mishcon de Reya LLP is based in London, Oxford, Cambridge, Singapore and Hong Kong (through its association with Karas So LLP). The firm services an international community of clients and provides advice in situations where the constraints of geography often do not apply. Its work is cross-border, multi-jurisdictional and complex, spanning seven core practice areas: Corporate; Dispute Resolution; Employment; Impact; Innovation; Private; and Real Estate.

The Mishcon de Reya Group includes consultancy businesses MDR Discover, MDR Mayfair (in London, Singapore and Dubai), MDR ONE, MDRi (in Hong Kong) and MDRx. The Group also includes MDR Lab, which invests in the most promising early stage legaltech companies as well as the Mishcon Academy, its in-house place of learning and platform for thought leadership.

Earlier this year, the Group announced its first strategic acquisition in the alternative legal services market, flexible legal resourcing business Flex Legal. It also acquired a majority stake in Somos, a global group actions management business.

Media OutReach

E3 Compression Latch with Visual Indicator Now Available in Zinc

Published

15 hours ago

05/12/2025

Media Outreach

HONG KONG SAR – Media OutReach Newswire – 5 December 2025 – Those prioritizing safety and security now have a cost-effective option. Southco’s E3 VISE ACTION® Compression Latch with Visual Indicator is now available in zinc. The latch features red, reflective indicator wings that can be easily viewed when open, allowing latch status to be monitored at all times. This offering further expands the line of MAKE SAFETY VISIBLE BY SOUTHCO™ products, which provide visual indication for increased safety and monitoring in a wide range of applications.

E3 COMPRESSION LATCH WITH VISUAL INDICATOR IN ZINC

Southco’s E3 VISE ACTION® Compression Latch with Visual Indicator displays latch open status that can be seen from a minimum of five meters, making it an ideal choice for rail, semiconductor and industrial machinery enclosures where an unsecured door or panel could impact safety during operation. By allowing operators to easily detect latch status, the E3 VISE ACTION® Compression Latch with Visual Indicator improves efficiency, enhances safety and reduces maintenance errors.

Global Product Manager Ike Teng adds, “The E3 VISE ACTION® Compression Latch with Visual Indicator provides visual feedback of whether a panel is fully closed, semi-closed or not secured at all. Like Southco’s standard E3 line, the indicator version delivers robust, vibration-resistant fastening and is available in a variety of grip lengths, providing a simple upgrade for enhancing enclosure safety and security.”

For more information about the functionality of E3 Compression Latches, please visit https://www.southco.com or email the 24/7 customer service department at [email protected]

Hashtag: #Southco #E3VISEACTION

The issuer is solely responsible for the content of this announcement.

About Southco

Southco, Inc. is the leading global designer and manufacturer of engineered access solutions. From quality and performance to aesthetics and ergonomics, we understand that first impressions are lasting impressions in product design. For over 70 years, Southco has helped the world’s most recognized brands create value for their customers with innovative access solutions designed to enhance the touch points of their products in transportation and industrial applications, medical equipment, data centers and more. With unrivalled engineering resources, innovative products and a dedicated global team, Southco delivers the broadest portfolio of premium access solutions available to equipment designers throughout the world.

Southco Asia Limited
2401, Tower 2, Ever Gain Plaza
88 Container Port Road, Kwai Chung

Hong Kong

Media OutReach

Global Qualifications Made Local: Leading Overseas Universities Partner with SIM

Published

16 hours ago

05/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 5 December 2025 – For students seeking an international education experience without relocating overseas, Singapore Institute of Management (SIM) offers a wealth of globally recognised degree options through partnerships with top universities around the world. These programmes deliver the same academic rigour and credentials as their home campuses, giving learners a competitive edge while remaining close to family and local opportunities.

University of London

The University of London (UoL) is one of the most established overseas degree providers in Singapore, having partnered with SIM Global Education (SIM GE) for more than 38 years.

Through this collaboration, students can pursue degrees in fields such as Business, Banking and Finance, Data Science, Economics, and International Relations. The programmes follow the same curricula and are examined by the same academic boards as those in the UK. SIM complements these with academic support, career services, a vibrant campus life and helping students gain a truly global education while staying rooted in Singapore.

University of Birmingham

The University of Birmingham, a member of the UK’s prestigious Russell Group of research-intensive universities, partners with SIM Global Education (SIM GE) to offer both undergraduate and postgraduate programmes in Singapore.

At the undergraduate level, the Bachelor of Science (Honours) Business Management (Top-up) equips students with analytical and strategic skills necessary for today’s competitive business environment.

For postgraduate learners, SIM GE offers the Master of Business Administration (MBA), designed for professionals seeking to strengthen their leadership, strategic management, and decision-making capabilities. The programme blends academic rigour with practical business applications, preparing graduates for senior management roles and global career opportunities.

University of Stirling

The University of Stirling at SIM offers globally recognised, research-led programmes designed to develop career-ready graduates. With flexible learning options, industry-relevant curriculum, and opportunities for global exposure, Stirling equips students with the skills and knowledge to thrive in today’s competitive job market.

University at Buffalo, The State University of New York

For students who prefer an American-style education, the University at Buffalo (UB) offers full U.S. degree programmes at SIM GE. Students can major in Communication, Psychology, or International Trade, earning a degree directly from UB – “a premier U.S. public university in Singapore … at a fraction of the cost” The UB programmes are taught by faculty approved by the home campus, maintaining the same academic standards and assessments as in New York.

University of Alberta

The University of Alberta holds a position among the top 4 universities in Canada and is internationally recognized as a leading post-secondary institution, ranking within the top 100 universities worldwide. Its steadfast dedication to excellence in research, teaching, and innovation spans over a century.

RMIT University

RMIT University, based in Melbourne, is another major Australian partner of SIM GE. Known for its industry-focused learning, RMIT’s programmes in Business Management, Marketing, and Logistics and Supply Chain Management are designed with employability in mind.

Students gain hands-on experience through case studies and project-based learning. The partnership allows Singapore students to graduate with the same Australian degree as those studying in Melbourne, often within two to three years.

University of Wollongong

The University of Wollongong (UOW), ranked among the world’s top 200 universities, partners exclusively with SIM Global Education in Singapore to offer IT, business information systems, cybersecurity, and data analytics programs taught by UOW faculty. Since 2005, over 3,000 UOW degrees have been awarded at SIM, with pathways for transfers to Australia and industry internships. Students enjoy access to SIM’s vibrant campus life, academic support, and opportunities for awards from agencies like CSIT and IMDA.

The University of Sydney

Over 3,500 of Singapore’s most talented health professionals have graduated with our nursing and health science related degrees, offered in partnership with SIM GE. The nursing programmes are developed, fully taught and awarded by The University of Sydney and accredited by the Singapore Nursing Board.

La Trobe University

La Trobe University is a public research university located in Melbourne, Australia. It was established in 1964 and is now the third university in the state of Victoria. The university is in the top five per cent of business schools worldwide to have earned an AACSB accreditation for delivering excellence in every aspect of the university’s work.

Monash College

Monash College is fully owned by Monash University, Australia’s largest university. The College is the preferred pathway to Monash University for international students. Through innovative programmes which align with the high standards of Monash University, we equip students for life at university, and beyond.

Grenoble Ecole de Management

Founded in Grenoble, Grenoble Ecole de Management (GEM) has greatly developed its expertise in the management of technology and innovation—an expertise that is now the foundation of the institution’s excellence and international renown. The school is accredited by AACSB, EQUIS and AMBA, and is a member of the French ‘Conférence des Grandes Ecoles’.

A Hub for Global Degrees

SIM Global Education offers over 140 full-time and part-time academic programmes from international universities partners.

Students here can earn world-class qualifications, gain exposure to diverse teaching approaches, and access global alumni networks all at lower cost and greater convenience than studying abroad.

As SIM GE highlights, its degrees are “globally recognised, with the same curricula and academic standards as those awarded onshore”

In an increasingly competitive world, these overseas degree options in Singapore offer the best of both worlds – international credentials with local advantage.

References:

University of London – Teaching Centre: Singapore – https://www.london.ac.uk/study/where-study/teaching-centre/singapore
SIM Global Education – University of London Programmes – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/university-…
SIM Global Education – RMIT University – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/rmit-univer…
SIM Global Education – University at Buffalo – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/university-…
SIM Global Education – University of Alberta – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/university-…
SIM Global Education – University of Birmingham – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/university-…
SIM Global Education – University of Wollongong – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/university-…
SIM Global Education – The University of Sydney – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/the-univers…
SIM Global Education – La Trobe University – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/la-trobe-un…
SIM Global Education – Grenoble Ecole de Management – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/grenoble-ec…
SIM Global Education – Monash College – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/monash-coll…
SIM Global Education – University of Stirling – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge/university-…
SIM Global Education – Overview of Degree and Diploma Programmes – https://www.sim.edu.sg/degrees-diplomas/overview
SIM Global Education – University Partner Page – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/university-partners-sim-ge

Hashtag: #SIMGlobalEducation #SIMGE #CareerReady #FutureSkills #HigherEducation #GlobalDegrees

https://www.sim.edu.sg

The issuer is solely responsible for the content of this announcement.

About SIM Global Education

SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 16,000 full- and part-time students and adult learners, of which approximately 36% are international students hailing from over 50 countries.

SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.

For more information on SIM Global Education, visit sim.edu.sg

Media OutReach

Yunnan Showcases Top 10 Must-try Experiences at Trip.Best: Southeast Asia Travel Trends Unpacked

Published

1 day ago

04/12/2025

Media Outreach

SHANGHAI, CHINA – Media OutReach Newswire – 4 December 2025 – On December 2, 2025, Yunnan Province, as an emerging destination in China among Southeast Asia travellers, was invited to deliver a special presentation to highlight its rich cultural tourism resources, at the Trip.Best: Southeast Asia Travel Trends Unpacked Event at Resorts World Sentosa, Singapore, hosted by Trip.com.

The event gathered representatives from the Singapore Tourism Board, Trip.com, leading travel agencies from Southeast Asia, international mainstream media, travel influencers, and industry experts. Trip.com business leaders shared data-driven insights into evolving travel consumption patterns in this region, covering entry and exit, accommodation, attractions, and dining trends, before revealing the highly anticipated Trip.Best Southeast Asia Travel Rankings.

Yunnan’s presentation on its “Top 10 Must-try Experiences,” took the audience on an immersive journey from the Yuanyang Rice Terraces and Xishuangbanna Rainforest to the Shangri-La Snow Mountain. These tours integrate intangible cultural heritage, ethnic cuisine, and artisanal crafts, creating authentic experiences for global travelers. Complementing the presentation, an outdoor Yunnan lifestyle experience zone was set up, where guests could savor Yunnan specialties, admire Yi embroidery, and capture memorable moments in traditional ethnic attire.

Yunnan also emphasized its traveler-friendly policies, including the 240-hour visa-free transit for international visitors in nine popular tourist destinations, including Kunming, Lijiang, Dali, and Xishuangbanna, and tax refund benefits for overseas shoppers. Enhanced connectivity through Yunnan’s expanding “air corridor” has significantly boosted passenger traffic between Yunnan and South and Southeast Asia. Kunming Changshui International Airport now offers flights to 37 international destinations, with 32 routes linking directly to South and Southeast Asia.

By leveraging Trip.Best‘s global travel rankings and experiential marketing strategies, Yunnan further solidified its brand presence as an international tourist destination, paving the way for deeper collaboration in Southeast Asia’s tourism market.

Hashtag: #Trip.Best

The issuer is solely responsible for the content of this announcement.