CNN —
A sharp hike in the price of luxury goods in recent years has cost some brands a key group of customers.
About 50 million customers were sidelined from the luxury goods market by 2024 as prices climbed roughly 20% since 2021, according to Aaron Cheris, a partner and head of global e-commerce and marketplaces at Bain & Co.
The deficit has some luxury brands rethinking ways to lure back “aspirational” luxury consumers, who tend to buy at least one luxury item per year and spend between $3,000 and $10,000 annually on fashion,
→ Continue reading at CNN - Business News
