According to the latest report from Barclays Bank, the outlook for the Chinese luxury market is expected to become more cautious due to poor summer sales in China. The report notes that luxury goods sales for most brands fell by 10% to 50% in July and August, and it forecasts that the growth rate of the luxury goods industry will decrease from 7% to around 4% in 2025. The report also highlights that the growth of the luxury market has nearly stalled due to China’s economic transition, with expected growth potentially being weaker and lasting longer. Additionally, it predicts that the best-case scenario for 2025 in mainland China will see flat growth driven by overseas consumption.