According to the seventh edition of the ‘True-Luxury Global Consumer Insight’ study, the luxury industry will gradually recover its losses and will not return to how it was in 2019 until 2022 or 2023. This research, carried out by BCG in association with Altagamma, focuses in particular on the tip of the iceberg, meaning the top consumers who spend around €39,000 ($43,960.41) annually on …
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A group of US consumers has surprised companies and economists by splurging on Taylor Swift concerts, trips to Paris and dining out — even as their savings decline.
Call them the YOLO consumers.