(bnnbloomberg.ca) - China’s big-spending shoppers are back, to the relief of the global luxury industry. But in a pandemic-era shift, they’re doing more of their spending at home, even with mainland borders open again — and the consequences for foreign destinations and brands once reliant on deep Chinese pockets could be dire. Some 62% of luxury spending by Chinese consumers took place inside its borders in April, widening from 41% in the same month in 2019 — before Covid — according to sales compiled by alternative data provider Sandalwood Advisors.
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