Reuters shed light into how, from $300 bucket hats to $900 sneakers and $700 t-shirts, the high-flying luxury sector is fretting over the appetite among financially stretched Gen Z consumers for such “aspirational” purchases. Executives are troubled in particular by a hit to young Chinese shoppers, not only because mainland China has been a major driver of the industry’s growth in recent years, but also because high end consumers in the world’s second-largest economy are a decade younger than the global average of 38.
The post Reuters reveals Luxury sneakers may be a step too far for cash-strapped Gen Z appeared first on Reuters News Agency.
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