Premium Retailers Ride China’s Recovery From Covid-19 Crisis

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The coronavirus pandemic has created a divide in China’s consumer economy, with makers of premium products rebounding strongly but those catering to mass-market consumers finding it tougher to return to growth

Driving the trend: The relative stability of upper middle-class incomes in China throughout the pandemic, with many white-collar workers able to work and

ride out the crisis from home. In contrast, up to 80 million Chinese people, mainly lower earners in services and manufacturing, have lost their jobs this...

 

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You mean rich people have money to spare in frivolous things in the middle of a global recession? Who would have thought 🤷🏻‍♀️

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