Mega Glocal Events Seen Driving Luxury Sales Amid China's Economic Slowdown: Dedicated shows and pop-ups, where Chinese VIPs are treated with the highest priority, help boost sales and brand awareness.

The Chinese luxury market is expected to continue its slowdown in 2024, but experts believe that brands that offer exclusive shopping experiences and desirable products can still achieve growth. While the World Bank predicts a decline in China's economy, high-end consumers in China appear to be less affected by macro pressures. Mega glocal events, which prioritize Chinese shoppers and incorporate local culture, can significantly boost sales and brand awareness. Brands like Chanel, Louis Vuitton, Dior, Hermès, Prada, and Valentino are expanding their VIP areas and opening flagship stores in China. However, the recovery of travel retail has been slower than expected due to the impact of the pandemic. Chinese fashion consumers are looking for unique designs and good value, and brands that can offer these qualities while maintaining a cohesive online and offline presence will appeal to them. [Extracted from the article]