Research
April 11, 2023
As challenging macroeconomic factors take on the market, wealthy consumers are providing shelter from the storm. Image credit: Luxury Institute
By Emily Iris Degn
Consulting firm Luxury Institute is out with its latest White Paper report indicating that while the market faces a year of challenges ahead, ultrawealthy consumers are to remain resilient.
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","iv":"bbbfe3d55d524a7cd550bd4768071fba","s":"681fb1b14235636c"}
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