How luxury brands survived COVID

New Ideas in MarketingEssential news for marketers, summarised by YouGov
April 01, 2021, 3:01 PM GMT+0

Gartner’s Luxury 2021 Digital IQ Index looked into around 73 luxury brands to understand how they navigated through the pandemic.

Luxury brand leaders navigated market uncertainty and shifts in consumer behaviour by driving brand awareness and pushing sales. Instead of offering product discounts, these brands utilised marketing campaigns to showcase their sustainable credentials, their care for employees and communities.

In order to reduce the gap between digital customer experiences and in-store services, luxury brands tested and scaled up new technologies. They focused on expanding “buy now, pay later” offerings and virtual consultations.

They also experimented with new channels like TikTok and untapped platforms like gaming to find their reach. These structural changes, team processes and agile ways of working have put luxury brands in a better position to steer through the crisis.

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