The huge anti-corruption and anti-extravagance campaign led by president Xi Jinping, has transformed China?s burgeoning luxury goods sector forever.
Luxury goods have become less accessible to the growing Chinese middle class, and less acceptable for members of China?s elite.

Now according to research group Aranca in its new report ?China?s Luxury Market ? Losing Sheen",? which was sent to Business Insider, there are four keys changes to the way the Chinese buy their high end goods:

The affordable or accessible luxury segment is gaining importance in China, driven by a burgeoning middle classes and high net worth individuals looking for understated merchandise.
The market becomes more mature and fragmented. Given the expected slowdown in China, many global brands are holding back on their aggressive expansion plans in the market. New store openings slowed down significantly in 2015. These brands are closing underperforming stores in order to avoid overexposure. Chinese buyers of luxury items are increasingly favouring online retailers over brick-and-mortar stores. This change is evident on the pricing and distribution front. Companies want to reach their consumers fast through electronic media and offer products at best prices quite unlike the old model that relied mostly on brick- and mortar wholesale and retail channels.
Chinese consumers? penchant for overseas travel are driving luxury goods sales abroad (along with hefty import tariffs and consumption taxes, and ...