The decline of Hong Kong and Japan’s will harm global sales according to a report of Bank of America.
Luxury is not as strong as in the past. According to the monthly report of Bank of America, luxury goods’ demand dropped 0,3% in the third quarter of 2019, influenced by the decline of Hong Kong and Japan’s demand.
In the rest of the world, instead, luxury goods’ demand stayed steady in the third quarter, especially in Europe, where it grew 5,1%, and in the United States, where it has accelerated the last months.
The report also pointed that France, UK and Italy will continue to have a sustainable growing for the last term of the year, between 10% and 11%. In Northern America the expectations of growing are expected in 5,7%.