Latest news with #ChineseConsumers
Bloomberg
2 days ago
- Business
- Bloomberg
China Holiday Spending Shrinks as Consumer Sentiment Stays Weak
Expenditures by Chinese consumers failed to pick up during the Dragon Boat Festival holiday even though more people hit the road, reflecting subdued consumer confidence in an economy reeling from US tariffs, despite a trade truce. A total of 119 million trips were made domestically during the three-day holiday, rising 5.7% from a year earlier. Travelers spent more than 42.7 billion yuan ($5.9 billion), up 5.9%, figures provided by the Ministry of Culture and Tourism on Tuesday showed.
CNA
28-05-2025
- Business
- CNA
Chinese consumers travel and spend less, LVMH deupty CEO says
PARIS :French luxury group LVMH has noticed Chinese consumers have been travelling and spending less over the past three months, Deputy CEO Stephane Bianchi said on Wednesday. Demand in the United States, however, showed some first signs of a rebound, but as long as trade tensions with the European Union over threatened tariffs are not being eased, the climate will remain difficult, he added.
Reuters
28-05-2025
- Business
- Reuters
Chinese consumers travel and spend less, LVMH deupty CEO says
PARIS, May 28 (Reuters) - French luxury group LVMH ( opens new tab has noticed Chinese consumers have been travelling and spending less over the past three months, Deputy CEO Stephane Bianchi said on Wednesday. Demand in the United States, however, showed some first signs of a rebound, but as long as trade tensions with the European Union over threatened tariffs are not being eased, the climate will remain difficult, he added.
Bloomberg
21-05-2025
- Business
- Bloomberg
Estee Lauder, L'Oreal Suffer as China's Duty-Free Spending Falls
Unable to travel overseas during the Covid-19 pandemic, Chinese consumers sparked a shopping boom in the southernmost province of Hainan, lured by the tropical island's plethora of duty-free shopping malls. Fast forward to today and the travel-retail sector in Hainan is in a 14-month slump with little sign of a turnaround. Duty-free sales dropped 10.8% over the first four months of 2025 compared with a year earlier, according to the latest data from the local customs agency. Both the number of shoppers and products purchased declined more than 25% so far this year.
