Financial Times
The pandemic has forced even the wealthy to change their spending patterns, BCG’s Sarah Willersdorf explains to the Financial Times. According to the seventh edition of BCG’s “True-Luxury Global Consumer Insights” report, 57% of high-end shoppers have refrained from making purchases and investments they had planned before the pandemic. Willersdorf says, “ultra-high-net-worth individuals are still happy to spend, while the slightly less rich will trade down.”