Indian Luxury Brands during Covid-19 Evidence
Publication details: Vishakhapatnam Gitam Insitute of Management 2021Description: Vol: 19, Issue 3, July-Sept, 2021, Pages 44-63Subject(s): In: Gitam Journal of ManagementSummary: Pandemics hurt economics and businesses and the luxury sector will be hurt as consumers cut spending to brace up for the economic downtrend. The recent COVID-19 virus outbreak is no exception. Developing economics like India can observe travel restrictions, global economic recessions resulting in job cuts, and changing consumer spending power. Wile the sluggish growth rate of the Indian luxury sector did not increase despite swift economic recovery from the pandemic lockdown and resumption of industrial activity, it underlined the necessity for strategic level adjustments in this overly vulnerable industry's response to future crises. The conclusions gathered from this study can assist luxury brand managers and strategies in dealing better with the crises circumstances that may arise in the future.| Item type | Current library | Status | Barcode | |
|---|---|---|---|---|
| Article | St. Francis Institute of Management and Research | Available | AR0973 |
Pandemics hurt economics and businesses and the luxury sector will be hurt as consumers cut spending to brace up for the economic downtrend. The recent COVID-19 virus outbreak is no exception. Developing economics like India can observe travel restrictions, global economic recessions resulting in job cuts, and changing consumer spending power. Wile the sluggish growth rate of the Indian luxury sector did not increase despite swift economic recovery from the pandemic lockdown and resumption of industrial activity, it underlined the necessity for strategic level adjustments in this overly vulnerable industry's response to future crises. The conclusions gathered from this study can assist luxury brand managers and strategies in dealing better with the crises circumstances that may arise in the future.
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