Exploring the Impact of the Covid-19 Pandemic on Luxury Brands

Abstract

Throughout history, luxury has served as a visual display of social stratification. In modern society, some believe that a ‘Chanel’ or a ‘Louis Vuitton’ is the premiere way to earn social credibility, because to them, these brands work as stand-ins, symbols of power, prestige, and social superiority. Moreover, with the spread of social media and its popularity, companies have new and efficient ways to engage with consumers and build and maintain relationships. This study evaluates the effects of the CAVID-19 pandemic on online marketing for luxury brands and determines its challenges. It highlights the significant financial impacts and the changes that have emerged in consumer buying habits and behaviours. Results reveal a significant trend amongst luxury buyers towards a more sustainable approach in the purchase decision process during and post covid era.