Trends Report

Luxury Brands Must Fully Embrace Digital Customer Relationships To Survive

June 30th, 2020

Summary

Luxury brands have felt the pain of lockdown and store closures; Forrester’s latest European data on consumer behavior during the pandemic helps illuminate what they can expect from consumers as lockdowns ease. Post-pandemic “revenge spending” in the West won’t follow the same patterns as in China, as economic anxiety tempers pent-up demand. Values-based communication takes priority over product influence for luxury brands during the crisis. The forced shift to digital commerce spotlights luxury brands’ digital experience and execution capabilities. Digital business leaders at luxury brands should use the growing consumer momentum to accelerate their own digital initiatives, as digital is here to stay.

Want to read the full report?

This report is available for individual purchase ($1495).

Forrester helps business and technology leaders use customer obsession to accelerate growth. That means empowering you to put the customer at the center of everything you do: your leadership strategy, and operations. Becoming a customer-obsessed organization requires change — it requires being bold. We give business and technology leaders the confidence to put bold into action, shaping and guiding how to navigate today's unprecedented change in order to succeed.