The luxury post Covid landscape

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[...] The luxury post Covid landscape “Remember, when our customer tightens their belt, it's generally ostrich or alligator,” Burt Tansky, Neiman Marcus's former president. Lessons from the 2008 financial crisis: The luxury field survived to a lot of crisis and two world wars. ● The recession will not last forever ● The post-crisis landscape will be The market will be transformed ● Recovery from the 2008 recession was rapid = increase in Chinese consumer spending . ● 2013: Asia-Pacific overtook Europe as the largest market for luxury goods. ● No “2nd China” in the next 10 years. [...]

[...] Emotions before transactions The importance of social ties ● Particularity of the jewelry industry ● Travel ban ● Continue to foster meaningful bonds with Key takeaways ➔ The crisis, and the following recession will not last forever ➔ The crisis is an opportunity for innovation and change ➔ The importance of social links: Emotions before transactions Do you think the record-sales by Hermès in its Guangzhou store at the reopening will be generalized? Will hopes of strong “revenge buying” materialize in Europe and the US ? [...]