Supply Chain Challenges and Counter Measures in the Recovery of Luxury Market

Abstract

In the past, people’s understanding of the luxury consumer market was limited to the unattainable and expensive ones, which led to a series of problems, such as the fact that luxury brands need to find quality and reliable suppliers, the luxury market was hit hard during the COVID-19, the supply chain was broken, a large number of layoffs, a large number of store closures, and so on. Then there are the sharp price increases in the post-COVID-19 luxury market. Before formally writing this paper, I read and searched a lot of literature. I found that there were many articles on management, economy and business, but few articles could focus on how the luxury goods market before and after the novel coronavirus epidemic changed from a downturn to attracting a large number of customers to buy luxury goods even though the price increased many times. With the development of the global consumer market, the luxury market is playing an increasingly important role.