| | Retail 10pc increase in online penetration could cause 5pc drop in store profitability: McKinsey  |  When retail returns after the COVID-19 pandemic shutdowns, retailers should be prepared to completely transform the way they imagine a store. Entire
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| Women in Luxury Women in Luxury 2020 New York conference moved to Wednesday, July 8 FREE |  Register now for Luxury Daily's fourth annual Women in Luxury conference Wednesday, July 8 in New York. Meet with speakers from BMW, Chanel, Piaget, Apple, Moët Hennessy, Ritz-Carlton, Mandarin Oriental, Maison Atia, Diamond Producers Association, Forrester Research, Ana Andjelic, Shanker Inc., Accenture, Modern Luxury, Worth, Meredith’s Travel + Leisure, China Luxury Advisors, Sedhom Law Group, Reputation Dynamics, Luxury Portfolio International and LVMH's Starboard Cruise Services. Entire
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| Wines and spirits Status spirits market on the rise, and likely to endure recession |  Alcoholic beverages that retail for $100 or more, the so-called “status spirits” market, grew 7 percent annually from 2014 to 2018, becoming a $8.3 billion market. Entire
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 | Strategy Webinar on May 13: China Luxury Rebound: Lessons for Other Markets FREE |  China is key to luxury's return to growth after the COVID-19 lockdowns evaporated sales worldwide. What lessons can luxury marketers learn from China's response to the pandemic? Is there a new playbook for luxury and what are its rules? To find out, please register for Luxury Daily's free webinar with Agility Research & Strategy on Wednesday, May 13 at 11 a.m. to noon ET (New York time). Entire
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| Retail Why discounts are a dangerous overreaction to a crisis |  The best-managed luxury brands are not discounting right now and are preserving their brand equity. Entire
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| Strategy Subscribe now: Full access to 90,000+ articles, reports, videos and images FREE |  We invite you to subscribe to Luxury Daily and join the ranks of the smartest luxury marketers worldwide. Our subscribers include decision-makers and executives from the world's leading luxury brands, retailers, agencies, publishers, market researchers, universities and consultancies. Entire
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| News briefs Hermès, Ferrari, Saks Off 5th and Rolls-Royce |  Luxury Daily's live news: Hermès is playfully busy on Instagram; Italy’s Ferrari to resume full production of sports cars May 8; Saks Off 5th partners with Food Bank for New York City in hometown effort; Rolls-Royce Motor Cars is first British automaker to resume production with ongoing lockdown; Webinar on May 13: China Luxury Rebound: Lessons for Other Markets. Entire
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| Columns How luxury brands can innovate in digital |  Brands have struggled to catch up with the connected, modern luxury customer, as the mechanisms they relied on to build exclusivity have disappeared. Entire
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