Luxury Loses Luster in China as Gen Z Embraces ‘Dupe Economy’
The luxury fashion market is facing a shift in China, where Gen Z consumers are increasingly embracing the “dupe economy.” On September 24, 2024, market analysts reported a growing trend among young Chinese shoppers opting for high-quality replicas instead of splurging on brands like Louis Vuitton, Prada, and Chanel. With China’s economy slowing, this younger…
