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🔗 Source: luxurydaily.com
📊 Size: 142 KB
📄 Pages: 2 pages
⬇️ Downloads: 73

Summary

New York, a major hub for luxury spending, has been effectively locked down due to the coronavirus outbreak, with stores shuttered, restaurants limited to takeout, and iconic areas like Broadway and Times Square deserted. The fallout is expected to be severe, with a huge portion of luxury sales coming from tourism, which will take months to recover. Local clients are also spooked about their financial stability, and even the wealthy are heavily leveraged. The luxury industry may see a shift to ecommerce, but it's dependent on warehouses and inventory being available. Marketers are advised to focus on what makes luxury great, such as quality, creativity, and exclusivity, and to be prepared for a potential rebound when the pandemic subsides.

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New York, a major hub for luxury spending, has been effectively locked down due to the coronavirus outbreak, with stores shuttered, restaurants limited to...

Technical Information

  • File Format: PDF
  • File Size: 142 KB
  • Pages: 2
  • Language: EN
  • Total Downloads: 73
  • Last Updated: 1 month ago

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