Spending in Asia-Pacific on luxury goods is set to contract by 3.4% this year – a fall, compared to last year, of $2.1 billion, as consumers rein in spending on expensive items and focus on smaller treats instead.
SABRE Awards, Gold, North America, 2020
Helzberg Diamonds, a jewellery retailer, created a portal that allowed its associates to get ordained to let the brand host its own wedding ceremonies in order to reach newly engaged couples in the US.
Swiss luxury group Richemont, owners of brands including Cartier, Piaget and IWC, has reported increased earnings, despite the effects of the COVID-19 pandemic during the final quarter of the reporting year and believes China’s “new retail” will be ...
As China emerges from its COVID-19 crisis, there are optimistic signs for the luxury sector, but observers don’t expect it to return to business as usual and some are touting an enhanced role for artificial intelligence as the category shifts ...
As the COVID-19 outbreak takes a toll on a global luxury industry that is heavily dependent on the spending of Chinese shoppers at home and abroad, Forrester's Xiaofeng Wang looks at how luxury brands are reacting.
Pam Danziger, WARC Best Practice, March 2020
Many of the most famous luxury fashion brands, from Louis Vuitton to Chanel, have been embracing partnerships with streetwear brands, which adhere to a California skate culture/New York early punk aesthetic, meaning they have put their money on short-term marketing ploys over what made them special in the first place: branding.
As consumers reprioritise their requirements in the face of the coronavirus threat, so marketers need to reassess their communications strategies; a needs-based framework could help, says one academic.
Online channels may be essential to driving future growth in China’s luxury market, especially outside the major cities, but a physical presence in these is still seen as important for overseas brands.
This Mediacom China report, in collaboration with Kantar, developed a research blueprint to unlock the formula needed for luxury brands to activate social media effectively for an audience-first approach.
This report summarises the latest research from WARC's Data platform, with a focus on new net advertising investment data by product category, which are exclusive to WARC Data clients from 1st October. Key findings include: