Global luxury sales to fall 2% in 2024, among weakest years on record, Bain says

Good. This stuff should be taxed at 50% and food should be zero tax.

China has been and still is producing High Quality replicas of all major brands in the black markets across the globe, as GEN X is not as attached to Grandma and Grandpa major brans one would expect them to simply Vanish.

New unknown brands to most middle aged customers are much much cheaper, better looking, better quality, at half or 1/3 the price is what is selling these days. No more LV, Chan. Guch, Chou. and so on. I only see night workers flashing these obsolete brands.

In Ginza only foreigners now can really afford those items.

https://www.reuters.com/world/asia-pacific/no-lunch-ginza-japans-scaled-back-spending-helps-push-economy-recession-2024-02-15/

https://www.cnbc.com/2024/07/26/chinese-shoppers-flock-to-japan-to-take-advantage-of-the-weak-yen.html