U.S. luxury credit card spending declines for third consecutive month
- 1Citi reported a 6% decrease in total U.S. luxury credit card purchases in September, marking the third consecutive month of declines as of September.
- 2Morgan Stanley analysts said brands have little room to recover growth due to the decline in U.S. luxury spending.
- 3Kering, the owner of Gucci, told analysts last week to expect a slowdown in the U.S. market.
So what's the key point?
Luxury credit card payments in the U.S. have been decreasing for three months. Kering predicted that the U.S. market will slow down.
Source Reuters · View original ↗
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