Outlook for Luxury: Conservative Buying
Despite pent up demand, shoppers will remain cautious.
Tay Suan Chiang
DINING OUT AND travelling aside, what do people miss most during a lockdown? Heading out to the stores to buy non-essential items, it seems.
A day after Hermes reopened its flagship store in Guangzhou last month, it recorded S$3.8 million in sales, said to be the highest for a single boutique in China.
Some have termed it "revenge shopping", or overindulging in retail therapy.
TRENDING NOW
Britain’s mansion tax shows the difficulty of targeting wealth
Once staunchly pro-China, Malaysian Chinese businesses are now distancing themselves from Beijing
The only common thing in S-E Asia is that we all eat rice: Cisco’s Asean president
Singapore data centre operator DayOne opts for US IPO at likely US$20 billion valuation
