Social media has allowed consumers to "own" and broadcast food and travel experiences as opposed to showing off brands. Photo: Getty

Luxury sector could be facing a ‘new normal’ according to analysts

Analysts call for luxury firms to adjust costs and spending in the coming years with the wealthy more likely to splash out on experiences over brand names.

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Social media has allowed consumers to "own" and broadcast food and travel experiences as opposed to showing off brands. Photo: Getty
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