A shopper wearing a protective face mask browses luxury handbags inside a Louis Vuitton boutique in Moscow, Russia.A shopper wearing a protective face mask browses luxury handbags inside a Louis Vuitton boutique in Moscow, Russia.The coronavirus pandemic has put many industries into crisis mode, and luxury retail is one of them.
"Dressing up, buying new clothes and following fashions is incredibly dependent on social activities such as going to work, going out, having parties and simply being seen by others," stated Vicky Bullen, CEO of branding consultancy Coley Porter Bell in an email to CNBC. "If you're not seeing anyone, what's the point?" she added.U.S. economy is in a downward spiral
Spark Ideas undertook research with luxury buyers in cities in the U.S., as well as in Shanghai , which revealed the popularity of high-end fitness equipment such as thebike. As well as being able to try different classes, one woman in the U.S. study said she was "in love" with the bike because of "the status it has with my friends."
Goods that are set to do well post-pandemic are those that might be called "quiet luxury," according to Rebecca Robins, global chief learning and culture officer at consultancy Interbrand Group. "We're already seeing the resurgence of quiet luxury and understatement, as evidenced in the more timeless aesthetics of brands such as Hermès, Prada and Bottega Veneta," she told CNBC via email.
A GoFundMe, maybe?
It’s all CCP’s tricks; CCP must be sanctioned, otherwise the world is a terrorist attack!!!ACTION! ACTION! ACTION!!!SOS
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