Insight Report 12 minutes PremiumCoronavirus Insights: US Luxury Is Well Positioned To Recover Post Crisis Coresight Research July 6, 2020 What's InsideAs a discretionary retail sector, luxury was dealt a significant blow by the coronavirus crisis this year. In this report, we assess how the coronavirus pandemic has affected the US luxury market, and its potential path to recovery—using proprietary consumer survey data. We discuss the impacts of Covid-19 on the Chinese and US luxury markets: Depressed demand and spending opportunity in China Lower spending, fewer visits to malls and less traveling in the US Actions taken by luxury companies to help fight the pandemic Looking ahead to the recovery of the US market post crisis, we consider the following key content: Signs of recovery for the US market—including changing consumer sentimentand store reopenings Positive factors for sustained market improvement—including a consumer preference for product over experience and demand for enduring value Expectations for the US luxury market to return to growth following a Covid-19 overhang—using the 2008 financial crisis as a guide Learnings from the China luxury market, in which there has been a rapid return of demand—including recent management commentary on luxury companies’ performance in China This report includes highlights from Capri Holdings, Chanel, Kering, LVMH and Tiffany & Co. Click here to view Coresight Research’s ongoing coverage of the coronavirus outbreak in China. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: ChatGPT and Generative AI: Five Things Retailers Should Know2023 US Tax Tracker #4: Post-Tax-Day Wrap-Up—IRS Issues $237 Billion in Refunds, Coresight Research Survey Reveals Consumers’ Plans for Tax RefundsCES 2023 Wrap-Up: Lots of Gadgets but Less SizzleUS Back to School 2023: Channels and Retailers—Who Is Set To Capture Share?