Retail News

Luxury Retail’s 2020 Journey Goes From Up To Down To East And Online

If you happen to be sitting on an extra $200,000 and are looking for a special gift for that certain someone, you’d better hustle over to the Luxury Week online auction at Christie’s and place your bid for the “rare and exceptional” diamond- and gold-encrusted crocodile Birkin bag before it’s gone.

The auction comes as the pursuit of the super-affluent shopper has never been more aggressive or mainstream. Luxury and high-end retailers have gone from plunging sales – and, in some cases, bankruptcy – earlier this year to cautiously optimistic forecasts of a China-led rebound in expensive designer goods. And many are embracing the same eCommerce shift that mass-market chains like Walmart are using.

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