Apart from domestic consumption, the Chinese are shopping abroad too. Chinese tourists, according to the World Travel and Tourism Council, spent US$215 billion abroad in 2015, and that was a 53% leap from US$140 billion in 2014. More than 60% of the consumers bought luxury goods, ranging from handbags, cosmetics and mobile devices, spending about US$116.8 billion on such goods.
For now, retail sales and consumer confidence are proving resilient, but how long can it sustain given the list of economic maladies that seems to grow by the day? #MergentInc #industryreports #retailing