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flag Luxury brands adapt to lure back mid-range spenders after losing customers to price hikes.

flag Luxury brands are adjusting strategies to attract "aspirational" buyers, who spend $3,000 to $10,000 annually on fashion, after losing about 50 million customers due to a 20% price hike since 2021. flag Burberry, for example, is focusing on more accessible prices and categories like fragrances, shoes, and accessories priced between $400 and $1,000. flag Brands are also improving in-store experiences to better serve these consumers.

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