In recent years, the global luxury market has increasingly adapted to the "new normal," in 2017, the luxury market began to recover and return to healthy growth. Based on this, it is necessary to study the luxury industry to respond to market changes. Firstly, we analyze the overview and development status of the luxury industry and study the market structure-behaviour-performance of the luxury industry based on the framework of the SCP analysis paradigm. Secondly, we analyze the characteristics of China's luxury market, such as the diversification of consumer groups and the upgrading of the consumption structure. And lastly, based on the above study, we make an outlook for the luxury industry. Finally, based on the above research, the outlook of the luxury industry is given, and appropriate suggestions are given.