Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)

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The Impact of COVID-19 on the Luxury Market and the Prediction of the Pattern in the Epidemic and the Luxury Market

Authors
Yifan Yu1, *
1Jiaxing senior high school BC offshore, Jiaxing, 314000, China
*Corresponding author. Email: 876607061@qq.com
Corresponding Author
Yifan Yu
Available Online 27 December 2022.
DOI
10.2991/978-94-6463-098-5_149How to use a DOI?
Keywords
LVMH; Luxury market; Global economics
Abstract

Due to the impact of COVID-19 on the economy, the general environment is depressed, resulting in an overall weak market and weakened consumer purchasing power due to the epidemic. Luxury goods, on the other hand, is a relatively blank area, but very representative. Luxury goods are typically non-essential goods, and we can observe the development and fluctuation of the economy through luxury goods. the impact of COVID-19 on the luxury goods industry and how much the luxury goods industry was affected. By analyzing the financial reports of luxury head groups in different years, and by comparing the impact of previous epidemics on the luxury market. It proves the great impact and exact extent of the epidemic on the luxury goods market, as well as the prediction of the possible direction of the luxury goods market in the future, and summarizes the patterns that exist in the luxury goods market and the epidemic. Financial reports come from the official websites of these companies. The conclusion of this paper is that the epidemic has had a very negative impact on the luxury market and that the luxury market will remain depressed for some time. But after that, it may cause a rebound.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
27 December 2022
ISBN
10.2991/978-94-6463-098-5_149
ISSN
2352-5428
DOI
10.2991/978-94-6463-098-5_149How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Yifan Yu
PY  - 2022
DA  - 2022/12/27
TI  - The Impact of COVID-19 on the Luxury Market and the Prediction of the Pattern in the Epidemic and the Luxury Market
BT  - Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022)
PB  - Atlantis Press
SP  - 1317
EP  - 1322
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-098-5_149
DO  - 10.2991/978-94-6463-098-5_149
ID  - Yu2022
ER  -