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The Impact of COVID-19 on the Fashion Luxury Industry Público Deposited
Prior to the outbreak of COVID-19, the luxury fashion industry thrived in brick-and-mortar stores, primarily in-store experiences. As a result of the pandemic, the industry is rapidly reshuffling and readjusting by adapting to new consumer priorities and using digital platforms to generate revenue and future growth. Overall, this study found that luxury fashion brands can expand their growth by utilizing strategic partnerships, focusing on digital marketing and e-commerce, and targeting emerging markets with high potential. Digital marketing and e-commerce are particularly effective with luxury fashion brands as they offer a wider reach, allow for targeted advertising, and provide a seamless shopping experience for customers. With most companies struggling to turn a profit, strategies for growth will be an essential priority for the years to come.
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