Financial Times
In the Financial Times, BCG’s Veronique Yang comments on the cautious spending habits of Chinese consumers following the easing of COVID-19 restrictions and lockdowns in multiple cities. She predicts luxury spending will recover in the last quarter of the year, contingent on the resolution of supply chain issues and returning consumer confidence. “The fundamental outlook remains the same, but it’s very clear that there is a further polarization in the luxury sector, with big luxury brands performing really well despite the COVID challenges and the affordable luxury and premium sector struggling,” she says.