Luxury Furniture Market Could Be 'Better-than-feared' in 2024, Report

Jennifer Lopez on JLo Beauty’s First Lip Product, Beso Balm, Her ’90s Supermodel-inspired Routine and Self-acceptance

Following the post-COVID-19 boom in sales, a slowdown was largely expected by top players of the luxury furnishings sector in 2023. Looking ahead to 2024, the sector is expecting “a better-than-feared” performance, according to the outcome of a conversation between five executives hosted by TD Cowen for a virtual panel on the high-end and luxury retail and manufacturing industry.

Companies executed price hikes this year, with increases between 15 and 25 percent on products, as a result of cost increases incurred during the pandemic. “Gross margins are flat to slightly down because price increases only covered the inflationary cost dynamic,” TD Cowen said. In 2024, however, panelists are planning on flat pricing for the coming year, which they are aware could hurt margins. “They are comfortable with that impact,” analysts concluded.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Norway: Car Market Shrunk, But EVs Maintained Ultra-High Market Share In October8,151 new passenger plug-in cars were registered last month in Norway (down 25% year-over-year), which is 91.3% of the total volume.
Source: InsideEVs - 🏆 579. / 51 Read more »

Norway: Car Market Shrunk, But EVs Maintained Ultra-High Market Share In October8,151 new passenger plug-in cars were registered last month in Norway (down 25% year-over-year), which is 91.3% of the total volume.
Source: InsideEVs - 🏆 579. / 51 Read more »