9 Oct 22 | GST: 10:00 AM - 9 Oct 22 | GST: 05:00 PM
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During the COVID-19 pandemic, apparel and footwear e-commerce witnessed a strong boost in sales, as customers were forced to turn to online shopping owing to restrictions and store closures. Yet, since the easing of restrictions, in-store shopping has bounced back and, with it, the share of online sales dropped. This has left many luxury online players struggling under the pressure of either slowing or declining sales.
After moderate growth in 2022, global sales of personal accessories grew more strongly in 2023; however, geopolitical issues, the cost-of-living crisis and China’s slow recovery suggest a challenging macro environment, pushing brands to navigate into uncharted waters once again in 2024.
Coupang, a major player in South Korea’s e-commerce, has shown exceptional growth in the country and aims to fulfil its aspiration for global penetration. While its attempt to explore overseas market face challenges, Coupang persists in strategic expansions including recent Farfetch acquisitions. Through the acquisition, Coupang is accelerating its transformation from a retailer primarily focused on household essentials to a more comprehensive platform that includes luxury items.
MICAM Milano, the world’s leading footwear fair promoted by Assocalzaturifici, is one of a kind: a benchmark event for dealers from all over the world.
As the global economy faces slower growth and high inflation, the challenges and uncertainties facing both luxury consumers and key players are escalating. The extraordinary global disruptions over the last few years have led to the rise of a new economic reality that is shaping the consumption of luxury goods and business outcomes today, but is similarly setting the benchmark of what we should expect for the short-term outlook.
As consumers increasingly demand the transition to an inclusive society, a unique window has opened for luxury brands to become better agents of social change by aligning their missions, values, and strategies with social purpose.
Our award-winning syndicated market research database provides detailed data and analysis on industries and consumers, across 1200 cities, 210 countries. We use advanced analytics and data science to identify and measure the effect of disruption to the economy, industries, costs and prices.
Explore PassportVia helps you navigate a fast-changing digital marketplace. We extract and organise ecommerce data from over 1,500 online retailers in 40 countries providing daily updates on pricing, assortment size and key attributes.
Explore ViaMore ways in which we collaborate with our clients using our data: