How did luxury brands do to overcome the COVID-19

Abstract

2020 is destined to be a year written in history. There is an unprecedented global outbreak of plague. By December 2020, there have been more than 78 million cases in the world, and more than 17 million patients died. The epidemic not only causes huge casualties in the world, but also has a huge impact on the economic world, especially for the luxury industry since the interests of the luxury industry largely depend on physical stores, offline services and other physical profit-making methods. The social isolation caused by the epidemic will greatly affect the income of offline services. This paper will make a detailed analysis of how the luxury industry spent the epidemic from three aspects: raising the price, increasing brand online operation services, and strengthening brand culture and product innovation. This paper will point out the excellent enterprises and brands in the face of difficulties in the face of excellent adaptability, as well as the brand internal management personnel excellent economic mind and wisdom.