Bouncing Back from the Pandemic: Assessing the Implications of COVID 19 on Luxury Brands
Date
2024
Authors
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Publisher
Springer Science and Business Media Deutschland GmbH
Abstract
In today's world, luxury brands like Chanel and Louis Vuitton symbolize social status and prestige. Even though the Covid 19 pandemic had a significant negative impact on the luxury brand market, these brands showed resilience and ability to adapt to the new normal. In this paper, we discuss the pandemic's impact on luxury brands during and post pandemic. Additionally, we focus on the online marketing efforts and the shift in consumer buying habits in countries like the United States, Germany, and China. Results were generated using a qualitative approach to analyze secondary data from reliable sources, ensuring credibility and minimizing biases. Findings indicate that the pandemic significantly affected luxury consumers’ purchasing motivations and has posed numerous obstacles mainly; disrupted supply chains, diminished demand, and a transition towards online sales. A key implication also revealed a growing trend towards sustainability in consumer behavior during and post pandemic. Luxury brands have re-evaluated the impact of these unprecedented factors on their e-commerce strategies. These insights provide valuable information for industry professionals and consumers alike. © The Author(s), under exclusive license to Springer Nature Switzerland AG 2024.
Description
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Book chapter
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Keywords
Consumer behavior, Covid 19, Luxury brands, Sustainable branding
Citation
Abaido, G.M. & Chabani, Z. (2024). Bouncing Back from the Pandemic: Assessing the Implications of COVID 19 on Luxury Brands. In B. Alareeni & I. Elgedawy (Eds.) AI and Business, and Innovation Research: Understanding the Potential and Risks of AI for Modern Enterprises. Studies in Systems, Decision and Control, 440 (pp. 115-125). Springer, Cham. https://doi.org/10.1007/978-3-031-42085-6_11