There's more to China's luxury spending slump than its struggling economy

Hermes; Louis Vuitton; Getty Images; Chelsea Jia Feng/BI

• Demand for luxury goods in mainland China is falling.
• The country's economy is slowing down, and some shoppers are rethinking their luxury purchases.
• But economic headwinds aren't the only factor — changing consumer tastes and new shopping habits are also driving change.

China, with its sheer population size and once-meteoric economic growth, has been heralded...