Luxury Market Crumbles as Middle Class Ditches Designer Splurges

What many residents of the world's wealthiest countries no longer consider luxurious, in Poland remains a dream of the masses. What do the aspirations of the Polish middle class look like? writes Dr. Kamila Pieczara

Luxury Market Crumbles as Middle Class Ditches Designer Splurges

The global luxury market, once buoyed by middle-class shoppers splurging on designer handbags and high-end watches, is facing a reckoning. In 2024, the personal luxury goods sector shrank by 2%, marking its first contraction in 15 years outside the early COVID-19 downturn. Middle-income households, defined as those earning £42,600 to £125,900 ($56,193 to $166,074) annually, are pulling back from 'aspirational' luxury purchases amid economic pres…

Middle-Class Spending Fatigue Is Hitting the Luxury Market - GAGA INDIA

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