How A Chinese Travel Slowdown Will Impact Luxury Trends And More

We estimate that approximately 10 million Chinese luxury shoppers will spend around US$60 billion on personal luxury items in 2023. About 80% of this expenditure will come from core luxury shoppers, who annually spend at least US$5,000 on luxury goods. Despite the current economic uncertainty, China’s core luxury shoppers continue to indulge in luxe shopping habits. However, casual luxury shoppers have become more cautious and are cutting back on their spending.?

Did you know??

Only 13% of online shoppers we surveyed would accept delayed delivery if it could reduce delivery emissions.?

The growing diversity of e-commerce models offers more opportunities and choices. But it also makes it increasingly complex for consumers to understand the environmental impact of their online purchases. Here, we dive into how online shoppers are thinking about the environment.??

Industry briefing?

Jumpstarting digital therapeutics: The digital therapeutics market has had its share of ups and downs. Despite the excitement around the potential to improve patient outcomes, few products have been fully embraced by patients, providers, or insurers. A significant obstacle is the absence of reliable clinical evidence. Here, the co-founder and CEO of Click Therapeutics shares insights on? the future direction of this segment.?

Our electric future: Momentum is building, investment is increasing, technologies are rapidly evolving, and the electric industry is mobilized and ready to facilitate the energy transition. The commitment of companies and governments and the financing of electrification investments across North America have opened the first and largest doors, but utility companies still face challenges.?

Corporate scoop?

Gen AI in banking: While we are still in the early stages of generative artificial intelligence (AI), three key conditions — technological advancement, customer adoption, and regulatory clarity — indicate that the technology is here to stay. Major tech players are constantly vying for market share, investing heavily in research and development, and rapidly releasing new and improved models and features. While the truly transformative applications in banking are still unknown, two plausible versions have emerged.???

Multi-cloud approach: Which public cloud solution will provide the services and infrastructure your business needs? You may not have to choose just one. As an enterprise, you’ll very likely need to deploy two or more of the major public cloud providers to meet your teams’ specific technical needs. With the right combination of providers, skillful integration of technology, and well-designed work processes, the advantages of multi-cloud can significantly outweigh any extra effort required.?

Oliver Wyman in the news?

Reuters: North American aviation companies get labor relief from foreign workers, at a cost

American Banker: Here's what's worrying chief risk officers

Who to follow?

Roberto Scaramella, leader of our European Aerospace and Defense Practice?

Steffen Rilling, principal in our Automotive and Manufacturing Industries Practice?

Mónica Prieto Abello, talent manager in our Madrid office?

More insights?

Turning climate intent into action?

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Harnessing risk and economic disruption??