Big-spending Chinese shoppers are splurging on luxury at home, not abroad any more

In April, some 62% of luxury spending by Chinese consumers took place inside its borders. - Bloomberg

BEIJING (Bloomberg): China’s big-spending shoppers are back, to the relief of the global luxury industry. But in a pandemic-era shift, they’re doing more of their spending at home, even with mainland borders open again - and the consequences for foreign destinations and brands once reliant on deep Chinese pockets could be dire.

Some 62% of luxury spending by Chinese consumers took place inside its borders in April, widening from 41% in the same month in 2019 - before Covid - according to sales compiled by alternative data provider Sandalwood Advisors.