• الأعمال

    The impact of covid-19 on the luxury consumer in 2020

    الثلاثاء, أبريل, 13, 2021

Given the context of wide global uncertainty and unprecedented circumstances, the Chalhoub Group sought to understand the impact of the COVID-19 pandemic on the GCC luxury consumer.

Between August and October 2020, we collected 2,700 online surveys from GCC locals and expats who had bought luxury during this period in KSA, UAE, and Kuwait. The main findings highlighted that even in times of crisis, retail therapy continued to hold its power over consumers in the region.

Most survey participants purchased luxury goods as a way of treating themselves, including new arrivals or limited editions. For those who opted out of splurging on luxury fashion and beauty during this period despite strong intentions, expressed practicing more caution and consciousness with future purchases.

The categories that consumers were most interested in investing in were particularly athleisure when it comes to fashion, and hair and skin care within luxury beauty.

The study also reconfirmed the acceleration of digital trends and growing confidence in online luxury shopping, as forecasted from our 2019 study. About 1 in 4 of the survey participants had bought luxury online for the first time during the crisis, leveraging different ways of shopping such as clientelling and virtual consultations.

With the new normal reality we are entering as a global community, we believe that the trends that emerged during the pandemic will be here to stay. 

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