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The democratisation of knowledge and shopper energy through social media has performed an enormous part on this. Platforms like TikTok and Reddit are full of conversations that problem the trade’s worth proposition, which has made it a lot more durable for luxury manufacturers to control their narrative. Recent gross sales figures underline just how far demand for luxury mega-brands has fallen from its post-pandemic highs. In July, some of the industry’s largest players reported disappointing revenues for the second consecutive quarter.






