Daily LInks
1. Banking Crises Are a Bad Look for Louis Vuitton and Gucci: The luxury industry does well when its customers feel happy and wealthy. Shoppers reined in their appetite for luxury after both the 2008 financial crisis and China’s crackdown on conspicuous consumption in 2015. – Read More on Bloomberg
2. Consumers choose to travel abroad over purchasing luxury goods: Luxury goods enjoyed extra popularity in Korea during the pandemic, but this has been subsiding rapidly as soaring inflation and high interest rates hit people’s wallets hard. – Read More on Korea Times
3. Great merchandising never goes out of fashion: Shein has achieved its “TikTok for e-commerce” status by investing in AI technology to predict consumer demand patterns, all of which has helped it accelerate its time to market. – Read More on McKinsey
4. Boosting Consumption, Economic Stabilization Among Top Agendas at China’s “Two Sessions.” The signals emanating from the Two Sessions could materialize into favorable local policies for luxury brands. For instance, during the sessions, Beijing unveiled a large-scale subsidy program intended to enhance the competitiveness of the city’s retail environment. – Read More on Jing
5. How European Regulators Are Thinking About Emerging Tech: “The types of AI models that these things are based on sometimes have the tendency to make up information or get facts wrong. So that’s a problem everybody is trying to work out, and I think that makes Google cautious also about integrating it into its search engine, which is super lucrative.” – Read More on the WSJ
6. Nike’s holiday quarter plagued by bloated inventory, weak China sales: Nike has been looking for a sales rebound in China, its third-biggest market by revenue, as the region recovers from the Covid pandemic. But those hopes have failed to materialize. – Read More on CNBC
