sharp drop in sales of luxury goods, seen during the pandemic, may now be just a memory. The fashion industry, which is poised to turn the page, solidified with new satisfying budgets, seems to be at the dawn of a new renaissance: not (only) creative, but, above all, economic. So what to expect from 2022? Definitely another 5% increase. To let you know, this is a report published Sun 24 hours and signed Altagamma Bein: It can be said that big brands are more than satisfied with the trend of the first quarter of 2022 with +17/19% growth compared to the same period in 2021. We’re back to shopping, investing in luxury goodsphenomenon that also prompts us to think about because the company is again attracted to logos and brands.
The first factor to look out for is so-called revenge buying.much talked about after the first and second lockdowns: post-pandemic shopping is dictated (also) by a deep sense of “revenge” – more precisely, revenge – which is aimed at get back everything that you couldn’t do/have/buy/live during the months of self-isolation at home. The savings on hand, the revenge purchases, meant that most of what wasn’t spent during the lockdown – aside from the boom in online shopping, of course – was invested in long-awaited luxuries. With a great shopping experience in boutiques to feel special again. Thus status and logomania gave way to a fundamental element: the idea of self-care, the gift of rewarding oneself after so many expectations and so many sacrifices.
The new geographic structure of the leading luxury markets is also fundamental to this discourse.. globally, Altagamma reports that the value of luxury goods purchases reaches a ceiling of 300 billion euros. “First quarter data is encouraging,” said Matteo Lunelli, president of Altagamma, Sun 24 hours “But supply difficulties, instability, inflation and war are clouds on the horizon.” In fact, Covid-19 has caused a lot of inconvenience in supply chains and supply chains. Subsequently, the outbreak of war significantly changed the structure of the market. Major brands cut ties with Russia due to sanctionswhich resulted in losses, which the source estimated at around 7 billion euros.
Today, as Russian influencers are recovering from the destruction of Chanel bags in protest (the content has become a platform for TikTok), shoppers with higher purchasing power are leaving Italy’s most famous shopping streets. Report from global blueleading company in the field of Tax Free Shopping, according to which the main buyers in Italy are now Arabs and Americans, who have taken the place of Russians and Chinese. China, meanwhile, is temporarily staying out of shopping in Italy, blamed on the recent wave of coronavirus that keeps luxury consumers from traveling. However, the West does not seem to be scared: luxury is returning, and the level that existed before the pandemic will soon return.
Source: Elle