18 August 2022, 2:50 pm. 1 minute
Reuters shed light into how, from $300 bucket hats to $900 sneakers and $700 t-shirts, the high-flying luxury sector is fretting over the appetite among financially stretched Gen Z consumers for such “aspirational” purchases. Executives are troubled in particular by a hit to young Chinese shoppers, not only because mainland China has been a major driver of the industry’s growth in recent years, but also because high end consumers in the world’s second-largest economy are a decade younger than the global average of 38.
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Retail & Consumer Goods
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text