Wide horizon: Shanghai's imposing downtown skyline at night. Image credit: iStockphoto
China has been quite vocal about getting back on its feet after being hit with the COVID-19 coronavirus starting fall of last year.
Lockdowns imposed during the Chinese Lunar New Year seem to have paid off, resulting in more freedom of movement.
Exuberant reports about record sales at Hermès’ flagship store in Shanghai, followed by increased traffic in malls and restaurants give hope to luxury marketers that there is life after COVID-19.
China is key for luxury brands, accounting for 90 percent of all luxury sales growth worldwide last year. Fifty percent of Chinese consumption of luxury occurred on tourist travel overseas and nearly one out five purchases worldwide is Chinese origin.
In this hour-long webinar, Amrita Banta, Singapore-based managing director of Agility Research & Strategy, and American Marketer and Luxury Daily editor in chief Mickey Alam Khan will discuss:
- Current state of luxury consumption in China and how it compares with year-ago period
- Which categories have bounced back relatively quickly and which ones lag
- Luxury brands that stood out during and after the virus outbreak in messaging, marketing, digital and retail, as well as empathy and support
- Did digital, online platforms and ecommerce save the day
- How key is China to the luxury supply chain
- Has the Chinese consumer of luxury goods and services changed with COVID-19, and will that pattern of behavior replicate in other markets
- Steps that luxury brands took in China that can be replicated in other markets across Europe, North America, Asia-Pacific, Middle East and Africa
- Lessons learned from the China experience and whether it can be extrapolated to other markets
- Plan B if the virus returns this fall to China and elsewhere
- Will the Chinese consumer come to luxury’s rescue in 2020
Speakers:
Amrita BANTA, managing director, Agility Research & Strategy
Mickey ALAM KHAN, editor in chief, American Marketer and Luxury Daily
Webinar attendees can request the presentation deck.
This webinar is part of American Marketer's mission to inform, educate and inspire its valued subscribers. Thank you so much for your willingness to spend a precious hour with us.