Luxury Sales Stall Due to Creativity Crisis and Price Hikes, Study Finds
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#3f6b3431 ver:0.11

Luxury brands in China are facing a creativity crisis and price hikes, resulting in high return rates and slower sales growth. The majority of middle-class shoppers are seeking discounts or shifting away from pricier purchases due to the economic slowdown. However, luxury brands like Hermes, Chanel, and Dior are focusing on cultivating wealthier customers and investing in concierge services. The global luxury market is also experiencing a slowdown, with China's economic sputtering and inflation in the US. A new study predicts that global luxury sales will stall in 2024 due to a creativity crisis and price hikes. #LuxurySales #ChinaMarket #EconomicSlowdown...

#newstr #LuxuryBrands #China #Gucci #RémyCointreau #LuxurySales #CreativityCrisis #PriceHikes #BainConsultancy #AltagammaAssociation 

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