How luxury brands can bring back customers

Luxury fashion brands rely on top spenders to buy highly expensive goods at any time. Which has been down since the start of the COVID-19 pandemic. To find a solution of this, a recent webinar arranged by the Retail Marketing Society (RMS), Jane Gundell, President and Founder of Research and Marketing Consultancy Gundell and Company, and Faye Landes, President of Landes Advisors, shared a way out on how luxury brands can inspire their regular consumers to resume shopping again.

Figure: Shift in consumer spending mindset is the key. Devoid of any social gatherings, people realize that they have enough goods already. The ‘need for new’ attitude is a thing of the past.