iPhone Demand Falls in China as Discounts Appear; Snack Brands Add Luxury Elements

  • iPhone demand in China is falling as resellers offer discounts of up to $180 on the latest iPhone 15 Pro Max models
  • Apple’s sales in China fell 13% in the last quarter of 2023 to $20.8 billion, its weakest performance in years
  • Snack brands like Oreo, Doritos, and Pringles are launching more premium flavors and limited-edition products to appeal to budget-conscious consumers’ desire for affordable luxury
  • Oreo will launch a tiramisu-flavored Thins variety on March 4th
  • Snacks have become one of the few types of items consumers continue to regularly treat themselves with despite economic pressures
  • Brands adding luxury elements aim to provide an escape for shoppers who must carefully watch spending in other categories