Consumers are increasingly moving away from "soft luxury" items like handbags and accessories. Even iconic bags are starting to lose some of their resale momentum. The average resale premium for Hermes Birkin and Kelly bags fell from about 2.2% times retail in 2022 to around 1.4% times by late last year.At the same time, there's been a trend toward "hard luxury" purchases like watches and fine jewelry. Part of the reason the jewelry market has been more resilient is because these high end pieces contain pre ...

Core Insights - Layoffs announced by U.S. employers surged in January, reaching the highest level for the month in 17 years, driven by losses of business contracts and an uncertain economic environment [1] Group 1: Layoff Trends - The number of layoffs in January marked a significant increase compared to previous years, indicating a troubling trend in the labor market [1] - This surge in layoffs reflects broader economic challenges faced by companies, including contract losses and economic uncertainty [1] Group 2: Economic Environment - The uncertain economic environment is contributing to the rise in layoffs, suggesting that companies are adjusting their workforce in response to changing market conditions [1] - The data indicates that businesses are becoming more cautious, potentially leading to further employment challenges in the near future [1]