Consumers return to their habits: Hermès store opening in Guangzhou earns $2.7million per day

According to a recent article by Esquire Russia, the flagship store of the Hermès fashion house in the Chinese city of Guangzhou opened after quarantine on Saturday, April 11th. For the first day, the store succeeded in completing a revenue of 19 million yuan - about $ 2.7 million. The consumer trend demonstrates the need for luxury good buyers to return to their habits as soon as restrictions are lifted; the luxury market is expected to receive an instant boost once restrictions in most countries are gradually lifted, even though a return to pre-coronavirus levels will not be expected immediately. The same applies not only for fashion and apparel goods but for the general luxury industry, demonstrating that target buyers engage in ‘revenge buying’, i.e. purchasing in bulk as a result of pandemic prohibitions.

Discover the full article here: https://bit.ly/2yA5M6h