2021 luxury market update : it’s all about digital and China
What is the status of the luxury market and digital in this Covidised 2021 world? A little more than three years ago, Philippe Jourdan, one of the world’s leading marketing experts regarding the luxury market, told me that the role of digital in the luxury market was not as significant as one may have thought. I interviewed him a few weeks ago in order to better understand the current situation and assess how much it had changed under the pandemic. Let’s see what has happened in the past three years and more particularly in 2020-2021. Namely, with regard to the unstoppable rise of China in the luxury market. Above all, according to Philippe, attitudes regarding the online purchase of luxury products have changed dramatically during this crisis. All this might well end up alter consumers’ behaviours forever.