Luxury goods grew by around 9% in America last year, which is well above inflation. While we have seen some businesses at the top end starting to experience a kind of cooling down,. Things like LVMH and Hermes are still comfortably outgrowing consumer spending as a whole in America.
The past few years have proved tumultuous both for American consumers and for retailers selling to them. The end result is a curious slump for middle-of-the-road brands. Artificial intelligence like ChatGPT stands to disrupt everything from art to coding; we self-interestedly explore probable effects on journalism. And remembering Ranajit Guha, a historian who saw a different India by looking bottom-up.
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