In dieser Angelegenheit

THE “BEST” IN EXTREME elegance and immense comfort also commands
an exorbitant price – and that notion of elegance and comfort changes
over time. Over the last few years, ethics and sustainability have begun to
count along with comfort in defining aesthetics and glamour. Shoppers of
luxury goods today know exactly what they want from a brand and do not
baulk at demanding it and today they want a product pledged to sustain
the planet. This new awareness makes consumers conscious of the values
of the brands they are aligning with.
The market for luxury products has been as hard hit by the Covid-19
pandemic as any other and reports caution of a 35 per cent contraction
in the luxury goods market in 2020. The depredation of wealth by a
pandemic on the loose has pushed the world “back to the basics”. Fashion
brands have reported that their lines of comfort-wear sold out as ‘workfrom-
home’ became the norm across the country. Technology-driven
companies reported better earnings as stay-at-home consumers splurged
on high-end gadgets.
The restriction on movement nudged buyers to move online for their
purchases. These last few months compelled luxury brands to resort
to innovative ways to engage with consumers, re-thinking and restrategising
for the “new normal”. The boom in digital began even before
the pandemic forced restrictions on movements and gatherings – Covid-19
simply hurried along the transition. Reports suggest that by 2025, online
channels could represent up to 30 per cent of the market.

I do hope you enjoy reading this issue, just as much as we did compiling
it. Happy Reading!

BW Businessworld Magazine Description:

BW Businessworld is a fortnightly magazine that has been published since 1975. It is one of the most popular business magazines in India, and it is known for its in-depth reporting and analysis of the Indian business world. It also features interviews with leading business leaders and entrepreneurs. It's a guide to the ever-changing business landscape.

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