Marketing Strategies and New Focus for Luxury Companies under COVID-19 Pandemic
- 10.2991/assehr.k.211209.155How to use a DOI?
- Marketing strategy; luxury goods; COVID-19; economic crisis
This research paper investigates the transformation of marketing strategies for luxury companies due to the impact of economic crisis resulted from COVID-19 pandemic. Taking International Brands as examples, this paper analyses from psychology of consumers to global economic performance in order to best examine the responses of luxury industries under pandemic as well as their new focus on marketing strategies. Luxury goods are greatly restricted by global economic outlook, consumer purchasing power and even consumer’s mindset. Hence, this paper aims to contribute to the luxury industry by providing new insights in methods to improve sells for luxury goods. Eventually, this paper concludes that under the challenge of COVID-19 pandemic, only a few luxury companies responded in an efficient and competent manner. The conventional pricing and marketing system could be enhanced to deal with more complicated issues under more complex context.
- © 2021 The Authors. Published by Atlantis Press International B.V.
- Open Access
- This is an open access article under the CC BY-NC license.
Cite this article
TY - CONF AU - Yilin Peng PY - 2021 DA - 2021/12/15 TI - Marketing Strategies and New Focus for Luxury Companies under COVID-19 Pandemic BT - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021) PB - Atlantis Press SP - 949 EP - 952 SN - 2352-5428 UR - https://doi.org/10.2991/assehr.k.211209.155 DO - 10.2991/assehr.k.211209.155 ID - Peng2021 ER -