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Luxury Spending Surges While Budget Retailers Struggle
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The 25 richest families are collectively $358.7 billion richer than a year ago, with a combined fortune totaling $2.9 trillion. Their wealth surged due to rising stock prices and demand for goods like metals and pet food, but also thanks to the clout and experience they’ve accrued over decades bloom.bg/4j3mMnR | Bloomberg
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Luxury brands focused on wealthier consumers in the US are performing better than those who appeal to aspirational shoppers on lower incomes who are deterred by the economic uncertainty, according to consultancy Bain & company https://reut.rs/42YvcTV | Reuters
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