Chinese buyers’ confidence is slightly declining. Very slightly though, but it might drop even more. Pambianco News has subsequently confirmed the report over Chinese customers’ trust, first provided by Exane BNP Paribas. On the one hand, luxury (and not just that) still relies on China, and their market, to effectively boost and expand their sell out business; yet, on the other hand, Chinese buyers have been sending a message not to be underrated. In fact, according to data put forth by China’s National Bureau of Statistics, Chinese customers’ trust has been steadily increasing throughout 2017, therefore reaching 124 index points in October. Such positive trend kept up until February 2018, and then it started declining down to 121 points between April and May. As emphasized by financial analysts, this new attitude supposedly derives from “two paramount factors that have been hitting and affecting Chinese consumers’ confidence: real estate inflation and wage inflation”. The overall situation might turn even worse in the next months because of macroeconomic issues, mostly related to the commercial war, currently underway between China and The United States, and consequent currency contrasts that concern Chinese yuan and US dollar.
What are Chinese consumers worried about? They look less confident than one year ago…
