The following result is obtained by our Internet Research Algorithm:
Following are the contribution of luxury brands for their customers -
• Luxury companies have pivoted to address urgent public-health needs: factories that produced scarves and perfume now manufacture face masks and hand sanitizer, and many luxury groups have made monetary donations to hospitals and other not-for-profit organizations.
• To survive, wholesalers are likely to adopt aggressive commercial and discount policies.
• Brands can focus on creating tailored local experiences, strengthening their digital and omnichannel offerings, and engaging more deeply with consumers in tier-two and tier-three cities.
• Many brands will depend on their ability to respond to the short-term urgencies related to COVID-19 while simultaneously planning and executing for the future.
• Aside from enhancing their own websites, they also consider partnerships with reputable e-retailers.
• Step up their personalization efforts in digital marketing. Luxury consumers are accustomed to a high standard of service in stores; the emphasis, then, would be on creating a personalized digital experience of the same quality.