Luxury sales are flattening amid a self-inflicted creativity crisis and price hikes, study finds
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A new study by Bain consultancy predicts that global luxury sales of handbags, shoes, and apparel will stall in 2024 due to a creativity crisis and price hikes. The study cites political uncertainty in the United States and economic uncertainty in China as contributing factors. Luxury sales experienced a post-pandemic surge but are now expected to flatten. The study was commissioned by the Altagamma association.

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https://apnews.com/article/global-luxury-sales-flattening-inflation-europe-us-32e628674279d4931a1f54cc2fcfa483