Hi everyone,

I was having a debate with a friend yesterday about the broader impact of VAT rate changes on the average consumer's purchasing power. From a professional standpoint, I see it as a balancing act for the government, but for my luxury accessory business, it feels like a hurdle.

Does anyone have high-quality data on how these shifts typically affect high-end retail versus essential goods?

I’m inquisitive about whether a small percentage change actually leads to a significant drop in volume, or if people just adjust their spending habits over time without much fuss.

Thanks in advance.