Brands from Starbucks to LVMH are really hurting in one big market
Starbucks struggled in China last quarter as consumer spending drops.
Beata Zawrzel/NurPhoto via Getty Images
- Brands like Starbucks, LVMH, and L'Oreal struggled in China last quarter as consumer spending dropped.
- Chinese consumers are saving more and spending on experiences over products.
- Starbucks plans to open more stores in suburban areas to counteract declining sales.
Some of the world's biggest brand names are struggling to crack one market this year: China.
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