Reported about 14 hours ago
Recent price hikes in luxury goods have alienated around 50 million aspirational buyers, who typically spend between $3,000 and $10,000 annually on luxury items. To counteract this loss, companies like Burberry are reintroducing more affordable pricing structures to attract this significant consumer group back into the market. Although some luxury brands remain hesitant to fully embrace lower-priced products, there's a growing recognition of the need to cater to aspirational buyers, particularly through improved in-store experiences and more accessible product lines.
Source: YAHOO