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Luxury goods market facing first slowdown since 2008 crisis – report ...News
Global economic uncertainty and inflationary pressures have been weighing on consumer spending, according to Bain & Company The market for personal luxury goods is projected to see its first slowdown since the financial crisis, excluding the Covid lockdown period, according to a new report by consulting firm Bain & Company. The annual report was released on Wednesday in partnership with the Italian luxury goods manufacturers’ industry association Altagamma. It suggests a 2% decline for the sector this year, to €363 billion ($384 billion), amid macroeconomic uncertainty and a slowdown in China, all of which is weig
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