Daily LInks
1. Gen Z consumers are feeling the pinch. For luxury brands, that’s a big problem: Gen Z were meant to make up a fifth of all luxury spending by 2025, but inflation and unemployment are hitting the discretionary incomes of young consumers. – Read More on SCMP
2. China’s $89 billion e-commerce giant JD.com posts slowest quarterly growth on record: Revenue rose 5.4% in the April to June quarter, marking the Chinese e-commerce giant’s slowest year-on-year growth on record. – Read More on CNBC
3. Physical Retail’s Sales Surge Above 2019 Levels Nothing to Cheer About: Even before the pandemic, “the traditional physical store model, which is how most everyone today defines physical retail and measures its sales, pretty much is — and has been for the last several years — on life support.” – Read More on PYMNTS
4. Lamborghini has already sold all its cars until 2024: Italian sports car maker Lamborghini has already pre-sold the entire production run to early 2024, its boss told AFP on Tuesday, the latest demonstration that luxury goods are seemingly unaffected by global economic uncertainty. – Read More on AFP
5. Macy’s CEO Says Belt-Tightening Isn’t Hitting Luxury, Work Wear: Consumers are still turning to Macy’s Inc. for work wear and luxury goods even as inflation puts pressure on household budgets, CEO Jeff Gennette said. – Read More on Bloomberg
