Luxury brands are raising prices and young consumers are skeptical. While brands like Hermès continue to sustain sales, other companies are experiencing a decline—especially as rising prices are pushing away middle-class buyers. Social media already drives the opinion that luxury goods are hard to obtain, and consumers aren’t happy about paying higher prices without even getting a clear boost in quality. Many luxury brands now rely heavily on aspirational buyers—one who saves up for a single buy, not just the ultra-wealthy—making it harder to strike a balance between maintaining exclusivity and reaching a wider audience. As a result, there is an ongoing challenge of justifying premium prices while keeping products desirable. (WSJ)
📝 YPulse reported: Even though some of Gen Z continues to shop from luxury brands, their inability to afford the luxury they want is creating new markets
