Lates News
According to the latest "Global Wealth and High-End Living Report 2025" released by the Swiss Julius Baer Group, the global luxury goods basket prices have decreased by 2% for the first time since the 2020 survey, a phenomenon described as "quite unusual". The report points out that historically, the prices of high-end consumer goods have typically risen at twice the rate of regular consumer goods, but in the context of high interest rates, slowing economic growth, and escalating trade threats, the luxury goods industry has entered a downturn after experiencing an "endless buying frenzy". Major players like LVMH and Kering have reported declining performance in the third quarter. Meanwhile, the price of business class plane tickets has risen against the trend by 18.2%, reflecting a strong recovery in high-end travel demand. By analyzing the prices of goods and services in 25 major cities worldwide, the report reveals the changing trends in the cost of lifestyles for high net worth individuals, highlighting the dual impact of the global economic environment on the luxury goods and high-end services markets.
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