The trend for tiny handbags - which are made for young consumers, creating brand affinity at a lower price point - has helped propel global luxury sales to record levels in 2022. Photo: Getty Images
The trend for tiny handbags - which are made for young consumers, creating brand affinity at a lower price point - has helped propel global luxury sales to record levels in 2022. Photo: Getty Images
Fashion

Tiny handbags, Gen Z consumers propel global luxury sales to new heights

  • Global sales of personal luxury goods are expected to grow by 22 per cent this year to a record US$366 billion
  • Chinese consumers are strong drivers despite ongoing Covid-19 lockdowns, but their overall weight has been reduced by the emergence of strong new markets

The trend for tiny handbags - which are made for young consumers, creating brand affinity at a lower price point - has helped propel global luxury sales to record levels in 2022. Photo: Getty Images
The trend for tiny handbags - which are made for young consumers, creating brand affinity at a lower price point - has helped propel global luxury sales to record levels in 2022. Photo: Getty Images
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