China. How to capture the local demand for luxury?

In China, the world’s leading luxury market, many retailers (fashion, beauty, etc.) are speeding up business. With international travel restrictions, Chinese customers now buy locally. In August, after rules were relaxed, internal domestic air transport reached record levels, reshaping the landscape of retail in China. Destinations such as Hainan replaced the Champs Elysées as the place to go for high-end brands. Since August 2020, retail sales have returned to growth in China (see table).…