Luxury Recession

Investment Analysis Clubs Macro Economic Trends and Risks
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I remember ringing my Rolex dealer (2021) asking about a new watch as a present for the OH and was told that they didn’t have a single Rolex in the dealership. Times have changed it seems:

Ryan Preclaw, head of research investment sciences at Barclays, stated last December that wealthy consumers were beginning to dial back spending as “it may be the start of a luxury recession.”

Come to think of it we have unconsciously cut back on expenditure. The OH recently had a birthday and the present cost about $25 - it wasn’t a Rolex :slight_smile: .

We have also got rid of one of our cars as we now only drive once or twice a week.

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ya had me…until I saw the source. Not an ounce of worth.

But hey a broken clock is right twice a day. Ya never know.

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Hi Leap1

Try Bloomburg

https://www.bloomberg.com/news/articles/2023-10-10/mercedes-top-end-sales-slump-in-blow-to-luxury-strategy#xj4y7vzkg

I had one once, not impressed by the build quality at all

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  • Global sales of flagship model fell 18% in third quarter
  • Mercedes, BMW China sales drop amid economic downturn

that was Bloomberg’s subheadline

This is ZH headline

Now Consumers Revolt Against Mercedes S-Class As Luxury Bust Worsens

My comment the word "revolt’ is what I object to. ZH is spouting nonsense.

The other issue the US and Western “recession” is a mild demand-side recession. Except in central Europe where supply-side econ is setting in.

That pales to China’s recession.

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