Luxury is too expensive: the USA don’t spend, China goes second-hand

Luxury is too expensive: the USA don't spend, China goes second-hand

Crazy prices: in the US they close their wallets, in China they turn to second-hand. Luxury costs too much, and the ever-increasing price tags have driven aspirational consumers away and caused the wealthy to rethink their spending, preferring travel, food and other experiences. Citi tells us that credit card payments in the US were down…

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