Still, the drop is narrower than the 35% collapse forecast in the spring, thanks largely to a market recovery in China, which is generating nearly a third of all sales.
D'Arpizio expects the outlook to become clearer in the second quarter, when it will be easier to understand how strong spending is in China, the impact of any stimulus measures in the U.S. and Europe as well as any new tax policies by U.S. President-elect Joe Biden, which are likely to affect high-earners.
China, where the market is already improving, is expected to lead the trend. Bain foresees a full global recovery between 2022 and 2023, with Chinese customers responsible for nearly half of all sales by 2025.
Seriously bad UX when shopping online.
That’s odd, the people who are buying luxury items are the only people doing just fine if not better then before the pandemic
Good
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