Luxury Recession Proof

July 31, 2024

At the time of writing the pound is plummeting, heading for parity with the dollar. The Bank of England is looking to hike interest rates again – perhaps hitting 6% next year. The government’s tax cuts look set to fuel inflation, which is already running around 10%. And then there are energy prices, which are climbing ever higher. It is the perfect storm.

At a time when prices are higher and citizens are watching the pennies, is the luxury market the one to be in? With people squeezed, goods in this category must be selling slowly – would anyone want to splash out right now? gift box drawer.jpg

But that’s not the case, and never has been. Over a decade ago, austerity didn’t hold back the luxury market and the signs are that the current economic downturn will barely touch the sides for the prestige and luxury sector. glass gift box.jpg

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Author:

Ms. Lily Yu

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admin@lyprinting.com

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+8613925768389

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