Will revenge spending restart the luxury market? China has returned to spending more than before after reopening, it's not said that the same will happen in Europe

According to a report by WWD, on the day of last Saturday alone, in one of the very first days after the reopening, the Hermès boutique in Guangzhou hauled a total of 2.7 million dollars. This is also a very high figure compared to normal standards, which has opened up the discussion about how the luxury market and its consumers will react to the end of the lockdown. After the SARS outbreak in China caused a similar period of decline in sales in 2003, the end of the epidemic saw the public spend far more than before - a phenomenon called "revenge spending" that occurs when a consumer, after a moment of forced savings, spends "for revenge" more than normal. Many analyst firms are already trying to sort through the first data that emerged from the Chinese reopening to predict whether revenge spending will be the dominant behavior even in the West to breathe new life into an industry that is likely to pay a very high price. Experts have conflicting views on post-crisis consumer behaviour: some believe it won't change anything others argue that the crisis will be a major psychological shock and will radically change drives in luxury shopping. 

The uncertainty of the future is also given by the fact that the changes brought by the pandemic are as economical as psychological: when consumer psychology changes, shopping habits change. For this reason, the Jing Daily report emphasizes the importance that, in the post-coronavirus world, brands will have to give to communication and interact with an audience more attentive to the environment and more experienced by the economic difficulties caused by the pandemic.