Retail
November 5, 2020
Xiaofeng Wang is a senior analyst at Forrester Research
By a Luxury Daily columnist
{"ct":"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","iv":"9ac8b9d51d1e7c62bf8a091c8ed61d7b","s":"32bd868ebdf877af"}
Share your thoughts. Click here