What do you think could happen?
- Thread starter karylicious
- Start date
My mom taught me long ago - she was born in 1941 - that when the economy goes down, lipstick sales go up. This has been reinforced by what I studied in college economics classes and from a few of my relatives who are in the business of economics. We want to feel good when times are bad. People who would normally buy a $300,000 car are now settling for a $2,500 handbag. So not all luxury items take a hit. People who rely on “food stamps” or “food commodities” or whatever you call it, still go out to eat. People will just step their spending down a notch, but for some, that means lobster instead of beluga caviar. We may not see a huge drop in stock value and sales across the board. It will be seen in some areas more than others. In the crash of 2008, home sales and values in my area didn’t even take a hit. Everyone was moving here to come to a better place.
My mom would also say, “When you feel down, out on a little lipstick.” A bandaid approach doesn’t last, but it does lift the spirits a bit. Watch the new Hermès lipstick line, as I’m betting sales soar. As for LV, let’s see what happens! However, personally, I will not be purchasing any new bags. My last bag was a $17,000 Hermès so I made a promise to myself, especially now that my stocks (my source of income) are destroyed.
My mom would also say, “When you feel down, out on a little lipstick.” A bandaid approach doesn’t last, but it does lift the spirits a bit. Watch the new Hermès lipstick line, as I’m betting sales soar. As for LV, let’s see what happens! However, personally, I will not be purchasing any new bags. My last bag was a $17,000 Hermès so I made a promise to myself, especially now that my stocks (my source of income) are destroyed.
Does anyone else remember there was a price reduction in 2006? At least in Canada there was. It might have been because of the strong Canadian dollar at the time. I remember the Speedy 25 was reduced from about $660 to $645.
It was definitely due to the dollar. If you look at the European prices though, they didn’t go down.
Currency adjustments yes. But never discounts.
I've been looking at the DE Cles online (to replace my old one) for 2 days now. I can't believe it's still Place in cart. It's only $210 which is so cheap compared to most of my stuff but I can't seem to pull the trigger. The feeling is so weird and unfamiliar.
I understand where you're coming from and I agree for most people this is not a great time to buy a luxury bag or luxury items.
But there will be continue to be a great disparity out there - for some, this may just be a minor inconvenience requiring them to stay home for extended periods of time. Not everyone is concerned about struggling to get groceries, unemployment after this situation is over (though I hope those who are fortunate enough to not have to worry will pitch in to help those in need). Even without any sort of pandemic, there will continue to be people who keep living the high life while others out there are struggling. For others this could really go a long way to cheering them up and wouldn't have a huge financial impact on them.
My point is, every person/family/household is different, and we just need to focus on what's right for ourselves at the moment and try not to impose our ideals on others
I doubt they will drop their prices however they will lose a fortune of business. They may regret their marketing approach of ALWAYS being in short supply of popular icons. LVMH is one of the largest luxury brands in the world, so it is likely that they will survive. The only ones who will suffer are their SA’s and other non-essential employees who will be out of work for the foreseeable future. The luxury Jewelry brand Birks in Canada announced they were temporarily closing their stores and the first thing they did layoff many employees. They did not even offer to cover them for 2 weeks. That’s the thanks you get for being a loyal employee! Shameful on some of these luxury brands!!
Look at how a corporation treats the backbone of their business and judge where your loyalty should be!
Look at how a corporation treats the backbone of their business and judge where your loyalty should be!
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They hope to be open on April 1st but it is very unlikely. We are in for the long haul. There is no way the situation will be under control in 2 weeks! Very wishful thinking. If we are lucky it will be 2 months! In Canada there have been 500,000 applications for employment insurance this month, compared to 27,000 last year same time. I love LV but these are very uncertain times! Anyone who actually has to work in order to afford LV should be very cautious!!Good new for CA's: In Canada stores will be reopening April 1st
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All of the luxury brands won't have product production for quite some time with the factory closures. If you're in a position to buy items now from H or LV or Chanel you'd have very little competition.
How’d you hear?Good new for CA's: In Canada stores will be reopening April 1st