Luxury Sneakers May Be A Step Too Far for Cash-Strapped Gen Z
KONTAN.CO.ID - SHANGHAI/PARIS. From US$ 300 bucket hats to US$ 900 sneakers and US$ 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.
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