Luxury Brands Navigating 'New Normal' in China

Luxury brands are facing several challenges in China, including a slowdown in consumer spending and a growing grey market for selling authenticated goods brought overseas as Chinese shoppers head abroad. Jacques Roizen, China Consulting Managing Director at Digital Luxury Group and Daniel Zipser, Senior Partner at McKinsey, discuss their outlook for the sector with Yvonne Man and Annabelle Droulers on "Bloomberg: The China Show."
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[sistermarmot]

It is2024 now consultants are still looking at 2023😂

[alexjia]

3:17 the last 2 bars are stupidly made

[Jaredbuncher]

Summary. They basically told the hosts “you are all idiots and don’t know what you’re talking about”

[aspiromy]

Those with the money to splurge at luxury goods at the brands country of origin lesser taxed items in China with VAT refund

[sistermarmot]

China slow down is undeniable …. New norm is trading down or going to substitutes. Traveling to buy in Japan but not Europe for yen weakness and this is unlikely to last when yen spikes up against cny and brands increase jp prices. Better change your views quicker and see the reality consultant!

[isaacisaac]

Many overseas Chinese purchasing is done through oversea Chinese YouTuber.
I’ve seen those tubers at luxury brand store and sending pictures of merchandise back. And get a yes or no right away.
At sales event, the clothing would pile up to the ceiling. It’s a sight to see, like I’ve never seen before.

[zdwzmns]

All Chinese should boycott western brands anyway…overpriced crap…

[lastChang]

75% of Chinese consumers' wealth is stuck in the property sector, such as the liquidated Evergrande.

[kenyup]

find somebody else who needs you, China economy is over