MILAN, April 21 (Class Editori) — As Chinese buyers take second place behind Italians and ahead of Germans at the Salone del Mobile, currently taking place in Milan, the wholesale management company JOOR confirms that they are back throughout Europe with a 58% sale increase in the European market.
JOOR's analysis, which covers the period from February 1 to March 16, found a 33% year-on-year increase in the number of Chinese buyers placing orders in the wholesale channel. The massive return of buyers is also reflected in the increase in orders for the Fall-Winter 2023 sales campaign.
While Europe saw double-digit growth, Western regions as well saw similarly positive presence. In fact, in North America and in the Asia-Pacific region sales grew 12% and 7%, respectively. The total number of wholesale transactions by Chinese buyers, made through the same JOOR platform, increased 61% over last year.
The positive trend in wholesale purchases by Chinese buyers reflects the overall situation of China's market landscape, which is gradually regaining its numbers and its role in the world chessboard.
In fact, according to McKinsey & Company, the luxury fashion sector will grow overall by 5-10% in 2023, driven by a strong boost from China, where the same industry is expected to grow between 9-14%. Along these lines, Bernstein also estimates a strong market recovery of about 25% in 2023.
(Source:Class Editori)
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