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Sales of luxury goods are forecast to drop by 2% to 363 billion euros ($385 billion) next year, from an expected 369 billion euros in 2024, due to steep price increases imposed by brands and global turmoil, Bain said.
“The problem I see is that quick commerce players, despite the huge valuations enjoyed and the seemingly unstoppable money flow that they get to grow, at some point they will have to find a path to profitability,” said Bain partner Marc-Andre Kamel, the co-author of a recent report on the online grocery market.
