18% of affluents (adults 18+ with household income of at least $100k) plan to increase their luxury spending in the next 12 months, compared to 15% who expect to rein in such (Affluents will spend more on luxury goods this year:
Last year Chinese consumers bought $9 billion of luxury items, the 2nd highest in the world. Overall, retail sales there soared 18 percent and firms like Apple and YUM generated billions in revenue. Nike earned around $800 million in profits...
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