THE POST-COVID19 LUXURY CONSUMER

VOICES From CHINA, UK, US AND FRANCE

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IN THEIR OWN WORDS

Collected quotes from Affluent and HIgh NET WORTH INDIVIDUALS

Integrated part of the research published in July 2020 ‘What does the Post-Covid19 Consumer want?’

The responses have been anonymised and grouped per section and topic covered.



In which way(s), if any, you think the Covid19 crisis will be affecting your luxury consumption habits in the future?”

SUSTAINABILITY, CHARITY, SOCIAL RESPONSIBILITY

I will consider my purchases more carefully and try to support UK and local shops much more now.
I will seek to consume more responsibly and pay more attention to the origin, ethics and ecology in my purchases.
Making me think of buying local luxury goods to support the local economy
Much more likely to stay local.
I will be looking to champion brands which behaved exemplarily during the crisis and shun the ones that didn’t as well as increasing my spend with socially responsible companies
I have been overwhelmingly blessed. Our portfolio has only lost 4 percent of its value because we made a conscious decisions not to invest in polluters, fossil fuels, unsustainable products, I do not foresee much change in our spending or travel. If anything, I want to travel more in whatever time I have left on the planet.
Donations to help people with disabilities
I hope that I will be more conscious of environmental issues.
I am looking for products with high artisanal and ecological value
I will decrease consumption of unsustainable luxury goods.
Thinking more of the planet and also, could my habits be hurting or infecting someone.
Support more local/independent brands
We must avoid unnecessary production now. It pollutes, damages and kills.

In which way(s), if any, you think the Covid19 crisis will be affecting your luxury consumption habits in the future?”

ONLINE SHOPPING

I think I will be more inclined to online shopping
I hardly ever ordered on the internet but I ordered on the Dior and Hermès site during confinement. The delivery was very efficient and the product similar to the photos; I will therefore order more on the Internet in the future. It is practical, easy and efficient.
I used to order a lot online and now I’m going to exclusively order online.
I will focus on more online experiences more than in-store/in person experiences
Use online shopping more to minimize the chance of going out.
I think I will buy more online.
Prompt me to shop more online
Until I feel safe for myself and family,our consumption will be by online purchases
I will continue to shop online and stay at home until it’s properly under control
I think I would buy online until it tampers down

In which way(s), if any, you think the Covid19 crisis will be affecting your luxury consumption habits in the future?”

SPEND REDUCTION

Likely to still spend but at a reduced rate and think more about purchases? Eg. Do I really need this 5th new item? But I will always appreciate luxury.
Slight reduction
I will probably spend less on luxuries and more on family activities.
I will just cut back for a bit till life is back to normal
Reduce the spend on luxury items and wait to see how the economy reacts afterwards
Will be reduced purely as a result of finding out what is really important in life.
Right now we have cut way down on any travel plans — both business and pleasure because it just doesn’t feel safe. We probably won’t take a summer vacation anyplace far. Also because we aren’t going much of anywhere we haven’t bought much of anything accessory or clothing-wise, though I have picked up a few deals (because who doesn’t love a good deal).
They may limit my level of consumption until I feel comfortable appropriate safety measures are in place.
I feel like it’s made me relook at where I spend money. It has made me consider other ways to put it to use besides just what I WANT to buy. I’m thinking of downsizing and minimizing my excessive purchases.

In which way(s), if any, you think the Covid19 crisis will be affecting your luxury consumption habits in the future?”

TRAVEL

Things have changed so much. I just had to cancel 5 trips I had for this summer which is very disappointing, unless there is a vaccine I will be much more cautious and travel less
I have been overwhelmingly blessed. Our portfolio has only lost 4 percent of its value because we made a conscious decisions not to invest in polluters, fossil fuels, unsustainable products, I do not foresee much change in our spending or travel. If anything, I want to travel more in whatever time I have left on the planet.
More luxury travel and more private travel
It will not affect my jewelry and timepiece purchases. I won’t be traveling as much for business so business travel will be much less. Trips to spas and resorts will be more often. My car leases will stay the same. We might downsize to one car for the next year because we are working from home. Once this is behind us, we will continue to lease two cars. If we give up one car for the foreseeable future, we will probably buy a collectible car as our second car.
Interestingly, having been confined to my home I have found different things to be more important. Luxury goods are not a necessity but I feel travel and experiences are necessities. I want to get back on the road/plane - safe, clean flights and hotels will be more important than carrying a luxury item.
I will be more mindful of hotels I book. I will avoid small unknown brands and will go for big brands as I am sure they take security of their customers seriously I will be more mindful related to my spent and avoid wasting
Resuming a vacation will not happen immediately but the trip will be much more luxurious and distant.
I still want to travel internationally, & also go on a cruise, but I may choose a different kind of vacation before those. Just to be safe.
I won’t be traveling for a while because I don’t want to be stranded anywhere.........I’m waiting to see what the economy does before I spend a lot of money on luxury items right now
Travel will be mostly eliminated, as well as any form of public transportation or shared use of facilities. Purchase of goods will mainly be done online or through video services, rather than in-person trips which was the norm before.

In which way(s), if any, you think the Covid19 crisis will be affecting your luxury consumption habits in the future?”

SPEND DIFFERENTLY

I will be much more conscious about spending in an effort to prepare for the unknown financially. I have different priorities now.
As prices of goods and services will be volatile and unpredictable I will research more and think ahead more
it will allow me to make more informed decisions and buy things that I truly need and save money for special occasions
I will be more thoughtful in my purchases
Less flying Less impulse purchases More timeless pieces
Maybe we will consume less, but better.
I think I will be more measured before buying a luxury item
Services, fair trade, perfect health facilities, support charity.
Buy more real estate value preservation, appreciation, buy more luxury goods with collectible value, gold

In which way(s), if any, you think the Covid19 crisis will be affecting your luxury consumption habits in the future?”

‘SPEND BOOST’

I’m likely to do more. The lockdowns have emphasised the limited time we have in life
It will affect my luxury spending in travelling, hotel and rental but it will boost my spending in luxury goods
certain items it won’t affect such as bags and so forth, but luxury overseas holidays over the coming months will be much less.
I would like to shop online more frequently and would purchase brands that have been helpful to local communities in these testing times.

In which way(s), if any, you think the Covid19 crisis will be affecting your luxury consumption habits in the future?”

‘HEALTH CONCERNS’

I can only go to a luxury boutique if I am completely relaxed, therefore impossible to be in this state with mask and gel
I don’t think it will affect me or my family all that much. We would like to see PPE’s used at facilities.
We are worried about catching this disease, hence being careful and avoiding travel.
More concerned with health safety
I will wait until covid has gone.
I will buy more luxury goods online, and resume consumption in physical stores after the epidemic is completely controlled.
I will be more cautious where I buy luxury goods.

In which way(s), if any, you think the Covid19 crisis will be affecting your luxury consumption habits in the future?”

‘NO OR LITTLE IMPACT’

It won’t affect the number of luxury items that I am buying but it will impact that ways in which I buy them.
I will not change much to be honest apart from more purchases on line
I will resume as before again...just not immediately once restrictions have been lifted. It will take me probably until a vaccine has come out to return to my habits, but i will travel again, purchase again, etc.
I think I will buy as much but am hoping to be able to do that in store not online
Nothing will change
Overall, very low impact, if not greater vigilance as to the origin and manufacture of the goods purchased.
It will not affect my consumption.
No real impact... I expect a gradual return to “normal” or “new normal” for travel, everything else will be relatively unchanged
Little effect. I will resume most of my buying habits. I will restrict travel for a while.
No change
Hardly at all

In which way(s), if any, you think the Covid19 crisis will be affecting your luxury consumption habits in the future?”

‘MINDSET’

My outlook on life has changed. Consumption and luxury items are perhaps not as important as I previously thought. Travel is of particular concern, particularly air travel. I am likely to try to be more focused on locally produced and seasonal goods. I have had a lot of time to think about my consumption habits and patterns. This could be the catalyst to reverse globalisation and encourage more community centric and localised supply chains. This would be a good thing. If anything good can come out of Covid it is the opportunity for the world to re-set and reconsider the long term impact on how the developed world has been behaving.
Yes a little, we refocused on ourselves
I will be more demanding on the quality and the place of manufacture. I will be waiting for an extended and more personalized customer service
Thinking more in-depth about my purchases.
Focus on value, quality
 

To view the data set in full, or speak to us about any of your luxury research requirements, please email us at contact@altiant.com.

Contributors

Lars Long, Founder & CEO Altiant

Meryam Schneider, VP Marketing Altiant

Plamen Iliev, Senior Project Manager

Contact

reports@altiant.com


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