The Digital Source For China's Tech Innovation Since 2000

Search
Close

Gen Z is driving luxury sales as wealthy shoppers get younger

January 18, 2023
Source: cnbc.com cnbc.com
News Snapshot:
Luxury shoppers are getting wealthier and younger, with purchases by some of the newest consumers expected to grow three times faster than older generations over the next decade, according to a new report. Generation Y, also known as millennials, and Generation Z accounted for all of the luxury market's growth last year, according to a report from Bain & Co. Spending by Gen Z and the even younger Generation Alpha, or those under 13, is expected to make up a third of the luxury market through 2030, reflecting "a more precocious attitude toward luxury" among the younger ranks than older...
Go To Original Source →
Tags: apparel | CEO | China | Covid-19 | customer | digital | Economy | Europe | inflation | IT | jewelry | LED | luxury | luxury goods | media | online | online sales | Pandemic | report | retail | Rising | sales | second-hand | Shoes | social media

Other Related News:

Opinion: What’s China got to do with the price of chips?

March 28, 2023

14 companies you’ll see at the NIBRT biopharma careers event

March 28, 2023

It’s the great TikTok panic and it could accelerate the end of the internet as we know it

March 28, 2023

Why Chinese consumers are not in the mood for a spending spree

March 28, 2023

Top-up tax for large corporates, the typical Irish renter, and TikTok’s parallel worlds

March 28, 2023

Xi Jinping asserts supremacy as Chinese president begins third term with loyalists in key posts

March 28, 2023

TikTok CEO hearing: Republican asks if app accesses Wi-Fi

March 28, 2023

Dress-Up RPG Has A Loophole That Gives Disney Princesses Guns

March 28, 2023

Bitcoin is surging amid banking crisis, but the reason is not what crypto bros think

March 28, 2023
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2023 ChinaTechNews.com. A Service of Asia Media Network.
Twitter