Featured Video Play Icon

Luxury Industry paving way to the road to recovery

The COVID-19 pandemic has disrupted the very fabric of our daily lives. It has left many businesses and industries questioning their future; the luxury industry is no exception. A study by Bain & Company estimates that the global luxury sales is likely to drop by 35% by the end of 2020. While, some believe the luxury sales in India will take an even bigger hit and fall by 50%. Despite these worrisome analyses, the travel restrictions have presented the Indian luxury brands with the perfect window to outshine international brands and demonstrate to the Indian consumers that they aren’t missing out on anything by shopping local.

While COVID-19 has undeniably had a sizable negative effect on the luxury industry, it has also encouraged emerging trends to evolve quicker. With the fashion runways going digital this year, augmented reality filters, 3D exhibitions, virtual reality showrooms, online shopping for luxury goods will take over the space. Besides digital, luxury brands are going to be a lot more consumer-centric, personalization and advanced tech will play a major role here.

Despite 2020 labelled as “the worst year in the history of modern luxury,” experts argue the luxury world will rebound just like it did in the past. The emerging trends reflect an enduring optimism about the industry’s resilience. The key is to dive back into business and adapt! Expert video analysis by Dr. Sheetal Jain, CEO & Founder – Luxe Analytics and Ambud Sharma, CEO & Founder – Escaro Royale on the Luxury Industry.


Related Videos

Featured Video Play Icon
#herfutures| Harshita Gupta’s Journey from a ground level clerk to the founder of HAIL WOMEN
The journey of Harshita Gupta, a young and an energetic entrepreneur, who fought against all the odds and toughest challenges that life threw at her stood strong and confident enough to be the Boss of her own by laying the foundation of her maiden venture with Hail Women , a formal work wear brand.
Featured Video Play Icon
Top 10 work from home essentials
As more people work from home today, we want to give you a well thought out guide to set up your home office.
Featured Video Play Icon
Rise of virtual dating apps amid Covid-19 pandemic
Detailed video analysis on the rise of online dating culture.
Featured Video Play Icon
#Coronavirus Impact on Retail Sector: Dr. Hitesh Bhatt, Retailers Association of India
Detailed video analysis on the impact of COVID 19 on retail sector by Dr. Hitesh Bhatt, Retailers Association of India
Featured Video Play Icon
The rise of processed food market in India
Detailed video analysis by Rohit Pugilia of Munchilicious and Deepanshu Manchanda of Zapp fresh on the rise of Indian processed food market.