Luxury brands have a legacy in sports sponsorships, but will this change now that several professional sports organizations have been forced to re-imagine their 2020 live-event schedules with COVID-19 social-distancing rules?
This COVID-19 coronavirus crisis has fundamentally challenged our perception for essential goods and values. How can we survive in the short term and what are the things that drive tomorrow and next year, the long-term potential?
Today’s buyers are more likely to scroll through luxury items online than spot the latest trends in magazines or window displays. Millennials now do 60 percent of their shopping online.
Users of the Pitti Connect platform will be able to carry out scouting activities and assisted research, contact exhibitors, plan meetings and view collections through video chats or a virtual showroom with advanced functions.
Luxury marketers can learn two key post-COVID-19 lessons from China: brands should maintain connections with their loyal VIP shoppers and embrace the new digital and virtual lives that consumers have built even when stores reopen.
The luxury market drives on the psychology of affluent consumers. When they feel good about themselves and are on solid ground financially, they give themselves permission to indulge. When they do not, they will not.
Technology has transformed many retailers over the past decade, moving from operating bricks-only business models into bricks-and-clicks platforms. The next frontier is making real estate decisions that focus on serving your most productive customers.
The weakened macroeconomic backdrop, along with consumer uncertainty spanning employment, income, health and wealth, will reduce the number of aspirational shoppers that luxury brands are able to attract in the near- to medium-term future.
What is the design philosophy behind conscious minimalism, from its less-is-more origins to some examples of home interiors that exemplify this trend?
British real estate brokerage Knight Frank’s view is that a decline of 7 percent in U.K. prices and 5 percent in prime London and prime regional prices will be experienced through 2020, with much of this decline already having taken place between March and May.
