Chinese New Year Signals Luxury Trends in China

Chinese New Year, one of China's biggest shopping holidays, spotlights shifting luxury trends as global brands like Gucci, Hermès, and Celine leverage equestrian motifs for the Year of the Horse to reignite demand amid economic slowdowns. China's luxury market share dropped from over one-third globally in 2019 to 23% in 2025, with consumers turning conservative due to stagnant incomes, youth unemployment, and housing woes, yet spending $140 billion on travel and gifts in 2023.