Younger generations driving luxury sales
chinadaily.com.cn |
Updated: 2023-01-19 09:17
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Global luxury-goods consumers are getting younger, and spending also will be driven by the younger generation in the next decade, according to a recent report by consulting firm Bain & Co. Generation Z (born from 1997-2012) members started buying luxury goods, including designer handbags, shoes, jewelry and more, at age 15, three to five years earlier than millennials (1981-1996), the report noted.
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