Luxury. Are Chinese now in the age of frugality?

Featured image of the article Luxury. Are Chinese now in the age of frugality?
Publication

29 September 2022 à 17h15

Updated on 21 October 2022 à 21h44

Reading time

2 minutes

Publication: 29 September 2022 à 17h15, Updated on 21 October 2022 à 21h44

Reading time: 2 minutes

Share
Copy link Share on LinkedIn Share on Bluesky Share on Facebook Share on WhatsApp
Add to reading list Remove from reading list
Publication

29 September 2022 à 17h15

Updated on 21 October 2022 à 21h44

Reading time

2 minutes

Publication: 29 September 2022 à 17h15, Updated on 21 October 2022 à 21h44

Reading time: 2 minutes

Share
Copy link Share on LinkedIn Share on Bluesky Share on Facebook Share on WhatsApp
Add to reading list Remove from reading list
Enjoy this article for free while you’re in your trial period
You have access to our content for 15 days
Explore the mind Retail subscription

…

In China, the decline in luxury goods sales and the slowdown in G.D.P. (up by only 0.4% in Q2 2022) is giving way to a new market of second-hand luxury. In August 2022, the hashtag #why do young people stop purchasing from luxury brands# was in the spotlight on Weibo, with over 270 million views in 3 days. According to a June 2020 UIBE report, second-hand accounted for 5% of luxury sales in China, compared to 28% in Japan and 31% in the U.S.A.

…

Over the past two years, Chinese second-hand...

You are reading this article thanks to your trial period.
Explore new horizons by checking out our other verticals:
mind Media mind Fintech mind Health mind HR
You are reading this article thanks to your subscription to Mind Retail.
Explore new horizons by checking out our other verticals:
mind Media mind Fintech mind Health mind HR
Do you have information to share with us?
Contact us
Our other services
Research
Conducting customized studies: benchmarks, overviews, personalized newsletters, white label content.
See more
Training courses
Our training courses & masterclasses: short formats for management, executive coaching, and skills development for junior profiles.
See more
Events
Our networking activities: half-day conferences dedicated to industry issues and open to the entire ecosystem.
See more
What you absolutely must read this week
The essential content of the week selected by the editorial team.
See all
Shoprite adopts Yoobic solution for 3,600 stores and 160,000 employees
As announced in April in mind Retail, the African grocery retailer Shoprite has confirmed the rollout of the Yoobic application to optimise staff task management and anomaly detection in stores...
29 October 2025
Faced with debt and declining sales, Fossil files for bankruptcy
Competition from Apple and Samsung in the smartwatch segment, collapsing sales, customs tariffs… Cornered with a debt of US$179 million, Fossil has filed several bankruptcy petitions in the U.S.A...
29 October 2025
EU: Omnibus bill stalled in Parliament
On October 22, MEPs rejected by a narrow majority the negotiating mandate that would have allowed trilogue negotiations to begin on the omnibus directive watering down the CSRD and duty of care...
27 October 2025
Verizon, Starbucks, DoorDash and Grubhub impacted by AWS outage
On October 20, 2025, the Amazon Web Services cloud (Amazon Q2 2025 revenue: 168 billion dollars, up by 13.3%) was down for several hours before returning to normal. Numerous websites and...
27 October 2025
Most viewed articles of the month on mind Retail
What readers clicked on the most last month.
What readers clicked on the most last month.
1
Lululemon, Ralph Lauren, Gap and Levi’s enter peak season with high stock levels
Faced with rising customs tariffs affecting US imports, several retailers have built up significant inventories. Over a year, the stocks of Gap, Levi’s, Lululemon, Ralph Lauren and Academy Sports...
27 October 2025
2
Faced with debt and declining sales, Fossil files for bankruptcy
Competition from Apple and Samsung in the smartwatch segment, collapsing sales, customs tariffs… Cornered with a debt of US$179 million, Fossil has filed several bankruptcy petitions in the U.S.A...
29 October 2025
3
AI search engines: how advertising is entering the conversation
While many retailers spend 80% of their acquisition budget on Google Shopping, monetisation tests are accelerating on ChatGPT, Perplexity, and Gemini. How much of the budget will they absorb...
23 October 2025
4
[mind Exclusive] After signing Fusalp and Ysé, Webyn relies on Gemini to boost the performance of e-commerce A/B testing
Awarded on October 13, 2025, in the category of the Customer Relationship Awards, the start-up specialising in e-commerce A/B testing continues to grow. For mind Retail, C.E.O. and Co-Founder...
23 October 2025
5
Antoine Jouteau, Leboncoin : “We are launching our first warranty offer for multimedia products”
As Leboncoin prepares to celebrate a 20th anniversary in 2026, mind Retail interviewed Antoine Jouteau, the outgoing Chief Executive Officer. As Jacob Aqraou, Executive Chairman of the Board of...
13 October 2025
6
Cyberattack: Muji, Loft and Sogo & Seibu e-commerce sites down in Japan
Since October 19, Japanese logistics company Askul (2024 revenue: 3.3 billion dollars, up by 2% year-on-year) has been the victim of a cyberattack, preventing it from managing e-commerce orders...
27 October 2025