Tuesday, July 29, 2025

Creating liberating content

Access Denied You don’t have permission to access ” on

YouTube announced on Tuesday it is planning to roll out

Anthropic is in talks to raise between $3 billion and

Nikesh Arora, CEO of Palo Alto Networks, looks on during

Related News

Access Denied You don’t have permission to access ” on this server. Reference #18.4cfdd417.1753821008.ba0df85 Source link

YouTube announced on Tuesday it is planning to roll out a new age-estimation technology that will identify users under the age of 18. The new feature is intended to protect

Anthropic is in talks to raise between $3 billion and $5 billion in a funding round led by Iconiq Capital that would value the artificial intelligence startup at $170 billion,

Nikesh Arora, CEO of Palo Alto Networks, looks on during the closing bell at the Nasdaq Market in New York City, U.S., March 25, 2025. Jeenah Moon | Reuters CyberArk

L&T Q1 results: Engineering major Larsen & Toubro (L&T) reported a strong set of numbers for the June quarter of FY26, with consolidated net profit rising 30% year-on-year to Rs

Tata Consultancy Services (TCS) has lost over Rs 28,000 crore in market capitalisation across two days, following its announcement to lay off about 12,000 employees globally over the course of

Trending News

Access Denied You don’t have permission to access ” on this server. Reference #18.4cfdd417.1753821008.ba0df85 Source link

L&T Q1 results: Engineering major Larsen & Toubro (L&T) reported a strong set of numbers for the June quarter of FY26, with consolidated net profit rising 30% year-on-year to Rs

Tata Consultancy Services (TCS) has lost over Rs 28,000 crore in market capitalisation across two days, following its announcement to lay off about 12,000 employees globally over the course of

BENGALURU: Lenskart Solutions is gearing up for one of the largest consumer-tech listings of the year, with its initial public offering (IPO) expected to raise between Rs 7,500 crore and

The Reserve Bank of India has capped investment by any single regulated entity—such as banks, NBFCs, or All-India Financial Institutions—at 10% of the corpus of any Alternative Investment Fund (AIF)

Global shares traded on mixed cues on Tuesday as investors focused on high-stakes trade negotiations between the US and China, while awaiting key economic data and central bank decisions later

Price wars: China’s middle class ‘cuts down on large expenditures’ as deflation deepens; shifts to second-hand luxury stores

Word Count: 648 | Estimated Reading Time: 4 minutes


Price wars: China's middle class 'cuts down on large expenditures' as deflation deepens; shifts to second-hand luxury stores
This is a representative AI image

Chinese shoppers are shifting their spending habits as economic pressures grow. Mandy Li, who works in the energy sector, stopped buying new luxury handbags after a 10% pay cut and a big drop in her family’s property value. She now shops at second-hand luxury stores instead.“I’m cutting down on large expenditures,” 28-year-old Li told Reuters, while exploring Beijing’s Super Zhuanzhuan second-hand luxury items store that opened in May.“The economy is definitely in a downturn,” she continued. “My family’s wealth has shrunk by a lot” due to the property crisis China has been grappling with since 2021,” she added.The shift in spending habits reflects deeper economic troubles. Consumer prices in China fell 0.1% in May compared to a year ago, raising fears that deflation may become entrenched. Price wars have broken out across sectors like cars, coffee, and e-commerce amid weak demand and overcapacity.New enterprises target budget-conscious consumers, offering 3 yuan breakfast deals and frequent supermarket sales. However, economists worry about the sustainability of price wars, as business closures and job losses could intensify deflation.The second-hand luxury sector grew over 20% in 2023, according to an industry report by Zhiyan Consulting from last year.This expansion has increased available items, reflected in substantial discounts. New establishments like Super Zhuanzhuan offer up to 90% reductions, compared to previous industry standards of 30-40%. The major second-hand marketplaces, including Xianyu, Feiyu, Ponhu and Plum, have also begun offering steep markdowns of 70% or higher on their merchandise.“In the current economic environment we are seeing more existing luxury consumers shifting to the second-hand market,” Lisa Zhang, an expert with Daxue Consulting, a market research and strategy firm focusing on China told Reuters.At Super Zhuanzhuan, a Coach Christie handbag originally priced at 3,260 yuan sells for 219 yuan, whilst a Givenchy G Cube necklace’s price dropped from 2,200 yuan to 187 yuan.





Source link

Most Popular Articles

Sign In

Welcome ! Log into Your Account