Affluent consumers are feeling more relaxed now that stores have reopened, but concerns over COVID-19 are not going away anytime soon as the coronavirus persists and confidence in the economy is low.
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We invite you to subscribe to Luxury Daily and join the ranks of the smartest luxury marketers worldwide. Our subscribers include decision-makers and executives from the world’s leading luxury brands, retailers, agencies, publishers, market researchers, universities and consultancies.
The pandemic’s impact on retail is a story of two halves. Many firms have felt the pain of store closures and need to adapt their operations to online-only sales and social-distanced operations across warehouses.
Retail stores reopened May 11 in Switzerland and have been performing reasonably well since day one of the new COVID-19-induced reality.
By the end of 2024, 75 percent of brands will shift from piloting AI to operationalizing it, according to a new report from Gartner. This represents a 5x increase in streaming data and analytics infrastructures.
The population of very-high-net-worth (VHNW) individuals – those with a net worth of $5 million to $30 million – rose 10 percent in 2019 to 2.7 million to a combined net worth of $26.6 trillion, suggesting that affluent consumers are gaining income at a faster rate than in previous years.
We invite you to subscribe to Luxury Daily and join the ranks of the smartest luxury marketers worldwide. Our subscribers include decision-makers and executives from the world’s leading luxury brands, retailers, agencies, publishers, market researchers, universities and consultancies.
Just about all business leaders understand how COVID-19 crisis has magnified the need for digital, specifically virtual interaction with customers and employees.
Deloitte Consulting has identified seven trends affecting the retail and consumer products industries amid the COVID-19 pandemic and beyond that may affect aspirational luxury spending.
