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Southeast Asian consumers turn to online luxe brands during COVID-19: iPrice

  

A report by e-commerce aggregator, iPrice Group reveals Southeast Asians are looking for high-end brands online even more so after the pandemic struck. The report noted that as the region’s consumers are restricted from visiting physical stores due to the virus, there is an increase in Google impressions on the top luxury and sports fashion brands on iPrice’s platform.

Comparing January and February’s impressions versus May and June’s, iPrice concludes that French luxury retail brands garnered the most interest amongst consumers during this period. Their demand for skincare products increased by 1,205 percent while demand for bags increased by 877 percent.

Demand for Louis Vuitton’s products increased by a whopping 555 percent followed by demand for Yves Saint Laurent and Chanel products. The iPrice report found Southeast Asians are investing in luxury watches during the pandemic. Searches for luxury watch brands Rolex and Tudor were 160 per cent and 51 percent respectively during this period.

Although industries and livelihoods have been severely affected by the pandemic, interest in fashion brands has not wavered, as proven by the iPrice study. Southeast Asian consumers are still searching for luxury and fashion items. In China where consumers account for roughly one-third of global luxury sales, brands are now launching aggressive digital campaigns to cushion the coronavirus blow. Luxury brands such as Cartier, Montblanc and Prada have set up online shops in China in order to reach out to consumers from a distance.

 
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