One this episode of The Fast Traack Podcast, we posed the question: What’s the place of luxury brands in times of crisis? To answer this question, we approached Rachel Clay, influencer marketing and luxury brand expert. Rachel is currently the Head of Social Media and Influencer Marketing at Matter of Form, a boutique digital agency in the UK.
As Rachel Clay shared with us on our podcast, the place of luxury brands in a crisis is far more reaching than one might expect:
- Luxury brand's ability to sustain a treacherous time period is a reflection of the industry and overall economy. In the past they have survived world wars and natural disasters.
- They have the manufacturing capabilities to provide necessary products. Over the last few months we’ve seen extraordinary action come from the beauty, fashion and hospitality industry.
- Their traditional method of advertising, which is through storytelling and escapism and brand awareness is now being emulated across all industries.
Luxury brands are a pillar of the global economy and a piece of history. They have always succeeded at educating, entertaining and inspiring-- and now, more than ever, they are proving to be useful in times of crisis. Listen up and let us know what you think in the comment section below.