The pandemic has put considerable stress on luxury brands to adapt and survive. Social distancing and other health precautions naturally subdued luxury sales figures, while global economic uncertainty severely disrupted the global retail supply chain. Brands have evolved as quickly as possible, but many still lack the necessary tools and technology to keep up with the rapid pace of industry change.
In our previous blog, Meeting the new luxury retail shopper, we examined how luxury customers, new and old, have changed their preferences in light of the pandemic. Now as the global recovery effort rolls on and the retail economy begins to rebound, luxury retailers have an opportunity to rebuild their operational processes from the ground up, prioritizing maximum agility for the fast-changing future. Let's dive into how brands can adapt their internal processes to thrive in this new age.