Years of underestimating changing consumer perceptions left many brands in a vulnerable position — one that they were in before the coronavirus struck. Image credit: Shuttserstock, Alexander Wang
The clock is ticking for luxury brands post-COVID-19
Posted By a Luxury Daily columnist On In Featured,Industry sectors,Marketing | No Comments
Years of underestimating changing consumer perceptions left many brands in a vulnerable position — one that they were in before the coronavirus struck. Image credit: Shuttserstock, Alexander Wang
{"ct":"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","iv":"62b7ebc68deffcde2d3151ca2b18a973","s":"2d58329fbcf3245c"}