1. How AI technology affects global fashion industry: The AI market is forecasted to generate more than $63B by 2028 and contribute $15 trillion to the global economy. By the end of 2022, 30% of all retail sales were influenced by AI recommendations. – Read More on CGTN

2. South Koreans are the world’s biggest spenders on luxury goods: Morgan Stanley estimated South Korean total spending on personal luxury goods grew 24% in 2022 to $16.8 billion, or about $325 per capita. That’s far more than the $55 and $280 per capita spent by Chinese and American nationals, respectively. – Read More on CNBC

3. Embracing digital commerce may be retailers’ best bet for staying ahead of a fast-moving industry: Though the pandemic-induced online shopping frenzy has cooled as more people venture out again, with all of the different methods out there for digital commerce, driven in large part by livestreaming and social media, it’s time to take a look at where this industry is headed. – Read More on TechCrunch

4. Put the Nepo Babies in Charge of Luxury: Young, rich and surrounded by expensive toys, they exhibit the characteristics that high-end buyers aspire to. As long as they are qualified for the job, keeping the bling kids around has merit. – Read More on Bloomberg

5. Nike CEO touts strength in Gen Z China shopper as Covid disruptions dent regional sales: CEO John Donahoe said Thursday the company is “really focused” on Gen Z consumers in China and that the athletic apparel retailer is continuing to see strong demand in the region, even amid Covid-related disruptions. – Read More on CNBC