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The Business of Fashion

consumer-spending

China

Hong Kong Retail Sales Down 42% Amid the Covid-19 Crisis

Sales dropped to HK$23 billion in March — the 14th consecutive month of decline.  

Luxury

Op-Ed | 6 Predictions for Luxury in a Post-Virus World

When the coronavirus crisis subsides, the luxury sector will eventually bounce back, but the market will have changed, write Jean-Noël Kapferer and Jean Revis.

China

5 Lessons for Brands in Post-Pandemic China

How can the recent performance of giants like Hermès, LVMH, Kering, Li-Ning and L'Oréal help other brands prepare for the next phase of China’s post-pandemic recovery?

China

Try Virtual Vouchers Instead of Deep Discounting

Global giants like Zara, H&M and Nike are experimenting with virtual vouchers to get people spending again in China. Should other brands follow suit to avoid the potentially harmful practice of deep discounting?

China

Patriotic Consumers Are Changing the Chinese Market. Here’s How.

As nationalism grows in post-pandemic China, global brands must work hard to compete against popular local players and tread even more carefully in the world’s largest fashion market.

Luxury

Op-Ed | An Enlightened Post-Pandemic Consumer? Don’t Count on It.

Some believe coronavirus will prompt fashion consumers to reassess their values and shift spending away from fast fashion and luxury megabrands. They are wrong, argues Eugene Rabkin.

Luxury

The New Normal: Survival Instincts Will Drive Business Adaptation

Economic recovery will be slow, forcing fashion players to ramp up resilience planning and adapt their operating models in order to survive, says The Business of Fashion and McKinsey’s Coronavirus Update to The State of Fashion 2020.

China

'Revenge Buying' in China Won’t Save Luxury

While other countries have experienced panic buying of essentials during lockdown, China has been debating whether a decadent shopping spree known as 'revenge buying' will be unleashed after the pandemic.

Retail

Who Is Still Shopping?

Despite an overall drop in apparel sales, young consumers stuck on social media — and fortunate enough to have a steady income — are buying clothes as the Covid-19 crisis continues to unfold.

China

China’s Battered Fashion Industry Up and Running Again

Green shoots of recovery emerge in China after more than 780 million people endured some level of quarantine for two months. But how long will it take for pre-pandemic levels of spending to return?

Luxury

What Shoppers Are Thinking Right Now

Consumers are feeling denial, anxiety, dread and hope. But even if they aren’t in the buying mood, brands can use this time to build deeper relationships.

China

Will E-Commerce Save China’s Luxury Business?

Luxury brands are pinning their hopes on e-commerce to recoup some of the losses caused by China’s dismal retail environment. But will consumers switch to online in sufficient numbers to make up for the massive coronavirus shortfall?

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