· now, 50 million luxury consumers have either ditched buying designer bags, scarves, watches, and more—or have been priced out, bain & company’s new annual luxury report warns. Until now, consumers have generally seemed to accept these. · bernstein analysts estimate that, between 2020 and 2023, global like-for-like prices on a selection of “evergreen” products rose 66 per cent at lvmh-owned dior, with chanel hot on its tail. · on average, luxury brands have hiked up the prices of iconic handbags by 50 per cent since 2019, according to an hsbc analysis. The luxury market is experiencing a global slowdown, with spending across the. · confronting a broad decline in demand, major marketers of luxury merchandise are broadening their product lines to emphasize goods priced under $500. · according to ngos and consumer groups, luxury fashion brands have been linked to burning excess stock, polluting with hazardous chemicals, excessive water consumption, and exploiting labor. · despite their exorbitant price tags, the production cost of these so-called luxury items is shockingly low. Brands like dior, burberry, and armani slap on their labels and charge thousands for items that cost a fraction to produce. · after more than two years of price increases, high-end brands are trying a new approach to attract shoppers.

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