At the moment, the price adjustment, not the first by brands, is a hypothesis. But the doubt alone was enough for customers to line up in front of luxury boutiques last weekend. This is happening in China, where fears of a new wave of price hikes since early September, together with restrictions on overseas travel, have spurred consumers to speed up the buying process.
Price adjustment
The Global Times testifies to it. Inside the International Finance Center in Pudong, Shanghai, last Saturday (August 29, 2020) there were long queues in almost every store, including Louis Vuitton, Chanel and Christian Dior. Customers had to wait over an hour on average to be able to enter. Other queues were seen at SKP in Beijing, and the Mixc mall in Shenzhen. Only a few go out without buying anything. The newspaper indicates that there are two factors driving purchases: the rumor that luxury brands would be willing to adjust prices once again, and the inability to travel abroad to shop.
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