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US department stores, once pioneers of retail innovation, are at a critical juncture, facing declining sales, eroding customer loyalty, and an urgent need for transformational change,…
China’s luxury market experienced a significant decline in 2024, contracting by an estimated 18%–20%, according to Bain & Company’s latest report on the China Luxury Goods Market.…
Over the past two years, the luxury industry’s customer base has contracted by approximately 50 million consumers, shrinking from 400 million to around 350 million by…