Home Retail How the luxury sector will shape up post COVID -19

    How the luxury sector will shape up post COVID -19


    India is home quarantined for more than 30 days and it still continues to fight and prevent the pandemic. Indeed COVID-19 cases are rising with days, but we as a widely populated nation have not even touched an average of what has happened in other countries due to the virus.

    How the luxury sector will shape up post COVID -19

    The lockdown has subsequently affected not just the lives of people but also the economy, which is still under abnormal pressure of poor sales and declining businesses. For a country like India, which has always focussed on building its small scale industries businesses is now under the threat of shutdowns as no sales is happening in the market. With small investments it is becoming difficult for such industries to sustain in the market.

    Talking about the luxury sector, it is too loosing visibility among its consumers ever since the lockdown happened. With changing purchasing behaviours of consumers, their pattern of purchasing has now shifted towards getting essential goods and services. Luxury can be an important part of anyone’s life but can’t be an essential commodity to anyone.

    Luxury market is not the only one who is getting badly affected by the outbreak, on a whole each and every industry of the nation is finding hard to set their footprints even in the time of lockdown. This quarantine period has already halted all types of business activities except e-commerce, which is blooming more than anyone assumed. For all those people who has just entered the market, and have no background in dealing with such circumstances, it is more than just difficult for them to sustain within the market.

    Luxury sector is surely going to widen its reach post lockdown, but only if its able to deal with the target audience digitally. Digitalisation has played an important role from the time it got invented till now. We can better utilize it in building visibility on multiple social media platforms which will ultimately impact positively on the brand value of any organisation.

    We have got ample amount of time while being home quarantined, by effectively using it we can actually draw many potent strategies after understanding the market and the economy analytically. This can be just the starting, so it becomes important for aspirational business person to pull up their socks and get themselves prepared of such situations.

    We are a young nation, and youth is the ultimate power of any country. We have still so many possible outcomes to get through this, only if we take things seriously. Our govt. and people have so far built on their solidarity against COVID, also our medical staffs is fighting hard to save lives. It is an important lesson for everybody, who’s either destroying resources or their time. If even now we understand the whole thing and start reacting upon it in a good manner, we can definitely conquer the lockdown. Things will shape differently post lockdown with rising needs and demands of people. We need to be more visible to attract masses to our services and this can only be done via digital platforms.