COVID-19 has forced luxury brands to accelerate innovation and adopt new retail and digital engagement strategies. Free report on 10 innovations in luxury.
Luxury brands have been hard hit by the drop in consumer discretionary spending and retail closures due to COVID-19. It's a shockwave that forced many companies to press pause on tried-and-true retail strategies. But the crisis is also accelerating innovation in the sector. Many brands are relying more on digital platforms to deliver product news and build brand engagement. Others are rethinking the shopping experience in line with safety measures. Consumers are less willing to browse, which means less impulse buying. So brands are turning to digital for novel, personalized experiences that lead to purchase.












