The majority of wealthy consumers in China have said that the worst is behind them, signaling a potential positive outlook for the post-coronavirus economy for luxury brands worldwide.
Most U.S. consumers are optimistic that life will return to normal and are trying to make the best of their situation during lockdowns.
Amazon Pay, Apple Pay, PayPal, Google Pay: alternative payments are a hot topic. And they are key to seamless checkout experiences, especially while consumers shop on their smartphones.
Those working in the luxury business are among the smartest, dedicated to making people feel better about themselves. Customers look up to you and your brand as the voice of authority on matters of quality, excellence in service and aligned values.
Shanghai Fashion Week, initially pushed back due to COVID-19, joined forces with Tmall to put on a fully livestreamed virtual fashion week.
The timepiece brands belonging to LVMH’s watchmaking division have decamped the once-grand Baselworld annual watch fair and expo, joining Rolex, Patek Philippe, Chanel, Chopard and Tudor in abandoning a 103-year-old event that fell victim to the lockdown over the COVID-19 coronavirus and a perceived inadequate response to financial and scheduling concerns.
Consumers are becoming more responsive to digital ads and more willing to make purchases online in categories that they would previously have bought in person due to COVID-19 shutdowns. This behavior will likely carry over after the crisis ends.
With reports on revenge buying circulating in mainstream media and analysts predicting a second-quarter rebound, what digital strategies should international brands consider leveraging in China to ride out the COVID-19 crisis?
Tofugear, a retail solutions provider with a focus on omnichannel commerce, recently released its Digital Consumer in Asia 2020 Report, which is based on a survey it conducted with 6,000 respondents across 12 markets in the region.
On April 2, the Court of Justice of the European Union (CJEU) ruled that online marketplace Amazon was not liable for trademark infringement for stocking infringing items for third-party sellers. The opinion failed, however, to address whether Amazon’s deeper involvement in many sales could be a basis for liability.
