According to the ninth edition of BCG’s ‘True-Luxury Global Consumer Insight’ survey, the luxury industry is faced with two scenarios in 2023. The first, more prudent scenario forecasts a growth of approximately 7-9%, with China’s recovery proceeding at a slower pace and Western consumers’ confidence still weak. However, the authors of the survey, which focused on the tip of the iceberg, in other words the world’s top luxury consumers, who spend approximately €39,000 a year in luxury goods, are leaning towards a more optimistic scenario, with growth forecast at 11-13%. This scenario expects US consumer confidence to improve and the Chinese market to bounce back strongly. Local demand in China is expected to increase significantly and to account for 82% of total expenditure,…