At times of crisis, it is tempting for brands to consider promotions and even price reductions. But is this a recipe for self-destruction? Image credit: Shutterstock
What would a recession mean for luxury brands?
Posted By a Luxury Daily columnist On In Featured,Industry sectors,Marketing | No Comments{"ct":"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","iv":"37b3b4a86cfd4034ed9a1c847ee4c20a","s":"1d47a7af60ca2745"}