Marketing Strategies and New Focus for Luxury Companies under COVID-19 Pandemic

DOI

10.2991/assehr.k.211209.155How to use a DOI?

Keywords

Marketing strategy; luxury goods; COVID-19; economic crisis

Abstract

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.

Copyright

© 2021 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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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  -