Retail
November 5, 2020
Xiaofeng Wang is a senior analyst at Forrester Research
By a Luxury Daily columnist
{"ct":"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","iv":"e2342152594a8c92f7f1221e160fc32c","s":"db51e74de025173c"}
Share your thoughts. Click here