Luxury products simplify life for consumers. But the luxury business is becoming more complicated as the pandemic moves on. Here’s what stakeholders can expect in the coming year
Just when the world was beginning to heave a sigh of relief from the pandemic, disaster struck once again. This time in the form of a highly contagious covid variant, the Omicron. Since its detection in early December 2021, in South Africa, this new variant has spread to more than two dozen countries – not only in Europe and USA, but also Asian nations like Sri Lanka, India, Japan, Malaysia, China, Singapore and South Korea. The variant is already threatening to disrupt supply chains, international travels, retail, manufacturing, hospitality and life in general. Hospitals are overcrowding once again, fears of the deadly Delta tragedy are surfacing back and impacting consumer sentiments all across the world.