Reported 2 days ago
As deflation grips China, consumers are increasingly opting for second-hand luxury items, with one store selling a Coach handbag for just $30. Factors such as wage cuts and declining property values are pushing shoppers to curtail spending, driving significant price competition across various sectors. The second-hand luxury market is booming, with discounts reaching unprecedented levels, raising concerns about its sustainability and the potential for deeper economic trouble.
Source: YAHOO