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☆ Rich Chinese millennials are creating new status symbols. Here are 11 ways they are redefining luxury.
  + stars: | 2024-05-19 | by ( Alexandra Bacon | ) www.businessinsider.com   time to read: +12 min
Rich millennials in the US have been known to splash out on their pets, new laundry rooms, and expensive coffee machines. And over in China, rich millennials have their own ideas of what counts as a luxury status symbol. AdvertisementExpect to see these rich millennials mixing luxury casual wear like T-shirts and sneakers with traditional luxury brands, Banta told BI. And getting regular aesthetic treatments has become a top priority for affluent millennials, Banta told BI. Independent luxury brands that offer more authentic products and those that draw on cultural heritage are also highly in demand, she said.
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☆ From tea to ketchup, some shelves lie empty as retailers struggle to predict demand
  + stars: | 2023-05-03 | by ( Richa Naidu Helen Reid | Richa Naidu | Helen Reid | ) www.reuters.com   time to read: +5 min
"Because of higher prices, people are buying smaller amounts of groceries overall and may have become more careful not to waste food." "Despite all of that, (there are) 8% to 12% missing items on shelves," he said. "This has created a major, major issue around out-of-stock" in most of the 16 Middle Eastern countries where the company operates, he said. Laurent Thoumine, Accenture's Europe lead for retail, said supermarkets in Britain, France, Germany, Italy and Spain have had the worst stock issues. Products that are scarce in some stores include ketchup, pasta, chocolate, tea, potato chips, toothpaste and pet food, according to Nielsen IQ's Data Impact.
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