has been a common practice and completely necessary to survive in an uncertain situation that seems to have no end. Incognita that also reaches the luxury sector, as its sales have plummeted in the face of the looming economic crisis .
The unforeseen 2020 has hit luxury companies until they are forced to adapt to unusual situations. The result of the health crisis in this sector has not been positive at all, at least this is what the data shows. Even so, according to a study on this market carried out by Bain & Company together with the Fondazione Altagamma, the next few years are seen with hope .
The study summarizes the result of a tough year for the luxury sector with which it will be possible to understand the evolution that is expected in the future. To begin with, the fall has meant 23% less sales for the sector, which in figures would be about 217,000 million euros . Given these data, 2021 is perceived with the hope of recovering 50 percent of this year’s loss, although its figure is still below the levels of 2019.
As reported by ABC , despite the heavy blow that the sector has suffered during the china phone numbers sms pandemic era, its confidence in the industry’s ability to transform its operations and redefine purpose is key to a successful recovery . In fact, the sector ensures that it wants to meet the new demands of customers and maintain its relevance for the younger generations. Although this path will be complicated, especially in Europe, since it has been the most affected area for this industry ,
followed by the United States. China, on the other hand, has seen the sector increase its sales by 45%, due to its ability to cope with the pandemic and the increase in domestic tourism. But China is the exception, because in general terms all luxury items have had a decline . In this China Phone Number Database decrease there are also the great survivors, those who have best survived the crisis. And these products are shoes and jewelry, items that have used the online channel as a lifeline from the difficult situation.