luxury brands , which have been affected by weakening demand in China , are shifting to other markets for sales growth . Falling GDP and crackdowns on luxury goods have all contributed to the declining luxury market . Analysts have suggested retailers have to shed old forms of sales , like marketing and distribution , and embrace innovative new strategies to attract young affluent customers who do not show brand loyalty .
Luxury brands, which have been hit by weakening demand in China, are turning to other markets for sales growth. Falling GDP and crackdowns on luxury gifts have all contributed to the declining luxury market. Analysts have suggested retailers have to shed old models of sales, like pricing and distribution, and embrace innovative new ways to attract young affluent customers who do not show brand loyalty.