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Pam Danziger: World Explanations and Bankable Strategy

pam danziger: From Tokyo's glitzy Ginza shopping district to Hong Kong, Macau and New York's Fifth Avenue, there are noticeable cracks in what has been the very bankable strategy of catering to throngs of newly affluent Chinese travelling the world, according to Toronto Star. Explanations vary from China's slowing economy to the government's push to spur spending at home and fluctuations in currency values. Now there are doubts about how long the buffet will last. Whatever the reason, the result is increasing worry across the globe. Dreamstime Luxury brands have gained a lot of traction and growth out of China, but the bloom is off the rose, said Pam Danziger, president of Unity Marketing Inc. in Lancaster, Pennsylvania, which researches affluent shoppers. Jeweller Tiffany & Co.; Capri Holdings Ltd., the owner of Michael Kors and Jimmy Choo; and Coach parent Tapestry Inc. have said spending by Chinese tourists in cities including New York and Hong Kong has weakened. ( As reported in the news.