Hi. This is Scott Kerr, creator and host of The Luxury Item podcast. Happy New Year!
This past December, we wrapped up our second season of the show.
I don’t have to tell you that 2020 was a year like no other - a pivotal one in history. The coronavirus pandemic transformed how we live and work in ways we hardly imagined at the beginning of 2020. It significantly impacted businesses and the economy, and pressed companies to rethink and reconfigure their strategies for a changed world.
The luxury industry was hammered hard, as the crisis decimated demand for luxury goods. As a result, two-thirds of the sector’s operating profit disappeared. It was the biggest drop ever for the luxury industry and it could take up to three years to recover.
Over the course of that time, on “The Luxury Item Podcast” I spoke to executives, creatives, innovators, and analysts across the luxury industry about how they have been navigating this unprecedented period, and planning for future growth. Guests also addressed the changing luxury landscape and shared useful lessons that can be applied to our own business strategies - which is the whole point of the show.
One thing for sure about 2020 is I couldn’t have done The Luxury Item Podcast without my listeners and amazing guests. Thank you for supporting the show and sticking by us as we grew. I’m so grateful to each and every one of you.
Now we're back for a third season, debuting January 12th. Expect more conversations with world-class business leaders on topics that matter most for the global luxury industry.
Luxury is often one of the first industries to take a hit in times of crisis, but it is also one of the most resilient sectors there is. So, here’s to the luxury industry rolling with the punches, adapting to changes and bouncing back stronger in 2021. Expect accelerated online channel growth, reimagined physical stores, shifting category sales, new ways people think and behave, an even greater demand for sustainability, diversity and inclusivity will be a key priority, and China will continue on its journey to be the world’s largest luxury market.
The Luxury Item podcast will be right there as it’s all happening.
Season 3 of The Luxury Item podcast comes your way on January 12th wherever you get your podcasts. A Silvertone Consulting production.
This is Scott Kerr. See you soon.
Scott Kerr, Founder & President of Silvertone Consulting
About Silvertone Consulting (silvertoneconsulting.com):
Silvertone Consulting builds go-to brands that add value to people's lives.