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Luxury sales fail to bounce back with store reopenings

Several luxury brands have reopened stores across the globe, but sales have failed to bounce back amidst the on-going health crisis. Shelly Socol met with Daniel Parisi of Glossy to discuss how changes in consumer spending behavior is having a lasting effect:

“At this time, it’s too early to know if reopening stores will fuel sales,” said Shelly Socol, founder and evp of e-commerce agency One Rockwell. “Consumers are still very cautious about going into public spaces. Also spending behavior has changed so dramatically with the lockdowns. So you are not only faced with the fear of being in a public space, but also your dollars are going more toward essentials than wants.”

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