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Asian millionaires take to “revenge spending,” signaling hope post-coronavirus

Shopper return to Chanel Shanghai on March 8th. Image courtesy of Agility Research and Strategy Shopper return to Chanel Shanghai on March 8. Image courtesy of Agility Research & Strategy

 

While the outcome of coronavirus has shaken Asian markets, millionaires from that region are returning to stores and the hospitality sector with an appetite for luxury and a new form of so-called “revenge spending.”