The global spike in luxury handbags, shoes, and clothing sales could be coming to an end due in part to China's 'luxury shaming,' study finds

• Global luxury goods sales growth will slow in 2024, per a new Bain & Company report. 
• The report cited China's economic uncertainties and rising outbound tourism as key factors.
• "Luxury shaming" and price hikes without innovation could also contribute to sluggish sales growth.

The spike in the global sales of luxury goods could be coming to an end in 2024, and "luxury shaming" could be in part to blame.