Communicating value
This article is part of a series of articles from the WARC Guide to communicating value. Read more.
A luxury study from Bain & Company in collaboration with Fondazione Altagamma from November 2020 revealed that the global personal luxury market collapsed by over 23% last year due to COVID-19 – and is now valued at about €217 billion down from last year’s €281 billion. To date, mainland China is the only region to have recorded growth (+45%) in 2020. With quasi-frozen touristic flows, the source of future short- to mid-term growth will be on local customers:...