The global personal luxury market has experienced the worst year since 2009, including stock market decline, exchange rate fluctuations and so on.

A report released by Bain & amp; Bain on Thursday showed that global sales of luxury goods are expected to grow by 5% to 1 trillion euros (6 trillion and 950 billion yuan) in 2015, excluding the impact of exchange rate changes.

Sales of personal luxuries, such as leather goods, jewellery, watches and fashion, are expected to grow by only 1% to 253 billion euros (1 trillion and 760 billion yuan), compared with 3% in the same period last year and 7% in 2013.

Luxury brands like Louis Vuitton and Burberry feel that the days in China are even more difficult, not only the economic downturn, but also the impact of the Chinese government's anti-corruption efforts, which has greatly affected the demand for handbags and windbreaks.

And the growth of the US has begun to slow down. On the one hand, the US stock market is not good. On the other hand, the US dollar is strong.

Chinese consumers are still the biggest.

Consumer groups accounted for 31% of total expenditure, compared with 28% in 2014, followed by Americans, 24%, and Europeans, 18%.

D'Arpizio, a partner with Bain in Milan, said that after the second quarter of 2016, the growth of the luxury market will become stronger.

The "new normal" of the luxury market is the annual 3%-4% growth.

Bain and Italy

Altagamma releases two such reports a year.

At least, the depreciation of the euro is good news.

Exchange rate volatility has increased sales of luxury goods by 26 billion euros (about 180 billion 807 million yuan), Bain estimates.

And Chinese customers are still more cost-effective at the exchange rate.

Especially Europe and Japan.

This year, a large number of tourists from all over the world poured into Europe and Japan because the exchange rate between the euro and yen dropped.

Russia's decline is striking, and its consumption in Europe's duty-free shops declined by 1/3 from January to August.

Bain predicted that jewellery was the best performing category in 2015, an increase of 6%, which contrasted with the sharp decline of watches in Asia.

Diamond necklace, which looks like a single product, is becoming more and more like a good investment, especially in such an uncertain economic and financial environment.

About 80% of Chinese luxury consumption is spent outside the mainland, the report said.

At the same time, luxury consumption in China's Hongkong and Macao, China has also dropped by more than 20%.

In addition, the consumption of luxury goods in the Middle East has also slowed down, partly due to the weak consumption performance of Russian tourists.