Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)

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Research on the Current Situation and Development Direction of China's Luxury Goods Industry Under the Regular Epidemic-Taking LVMH as an Example

Authors
Lefu Wei1, *
1International College of Xiamen University, Xiamen, China
*Corresponding author. Email: weilefu2001@stu.xmu.cn
Corresponding Author
Lefu Wei
Available Online 31 December 2022.
DOI
10.2991/978-94-6463-036-7_135How to use a DOI?
Keywords
Luxury; Epidemic; Consumer Market
ABSTRACT

The outbreak of COVID-2019 brought about an economic crisis that swept the world. Until now, we entered the phase of normalization of the epidemic, but the unchanged circulation of people still limits our economic development. The impact of the epidemic was far-reaching, and until now, China's economy has remained depressed. Miraculously, China's luxury goods market has seen an explosion after the epidemic. But this growth was caused by external factors and without a change in its strategy, this growth due to the epidemic will gradually slow down in the foreseeable future. Therefore, in order to help the luxury industry to develop new strategies and find new space for growth, take LVMH as an example., this paper analyses the unique advantages of LVMH through SWOT analysis method and provides solutions for the future strategic development of luxury brands by combining the consumer psychology, demographic structure, and national policies in China today.

Copyright
© 2022 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 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
31 December 2022
ISBN
978-94-6463-036-7
ISSN
2352-5428
DOI
10.2991/978-94-6463-036-7_135How to use a DOI?
Copyright
© 2022 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  - Lefu Wei
PY  - 2022
DA  - 2022/12/31
TI  - Research on the Current Situation and Development Direction of China's Luxury Goods Industry Under the Regular Epidemic-Taking LVMH as an Example
BT  - Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
PB  - Atlantis Press
SP  - 917
EP  - 922
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-036-7_135
DO  - 10.2991/978-94-6463-036-7_135
ID  - Wei2022
ER  -