LVMH and Chanel hit by current Chinese Covid-19 lockdowns

Featured image of the article LVMH and Chanel hit by current Chinese Covid-19 lockdowns

An article by Sophie Baqué

Add mind Retail to your sources
Publication

3 June 2022 à 15h10

Updated on 21 October 2022 à 21h32

Reading time

3 minutes

Publication: 3 June 2022 à 15h10, Updated on 21 October 2022 à 21h32

Reading time: 3 minutes

Share
Copy link Share on LinkedIn Share on Bluesky Share on Facebook Share on WhatsApp
Add to reading list Remove from reading list
What will be the effects for the Chinese luxury sector of inflation combined with the severe lockdown over the last two months? A recent study from Daxue Consulting provided some answers.

An article by Sophie Baqué

Add mind Retail to your sources
Publication

3 June 2022 à 15h10

Updated on 21 October 2022 à 21h32

Reading time

3 minutes

Publication: 3 June 2022 à 15h10, Updated on 21 October 2022 à 21h32

Reading time: 3 minutes

Share
Copy link Share on LinkedIn Share on Bluesky Share on Facebook Share on WhatsApp
Add to reading list Remove from reading list
Enjoy this article for free while you’re in your trial period
You have access to our content for 15 days
Explore the mind Retail subscription

…

Daxue Consulting reported on June 1st that Chinese consumers have cut back on non-essential spending and uncertainty is driving up savings. In March 2022, retail sales in China fell by 3.5% and then by 11.1% in April (annual change). This was the biggest drop since March 2020, down by 15.8% during the first wave of Covid-19.

You are reading this article thanks to your trial period.
Explore new horizons by checking out our other verticals:
mind Media mind Fintech mind Health mind HR
You are reading this article thanks to your subscription to Mind Retail.
Explore new horizons by checking out our other verticals:
mind Media mind Fintech mind Health mind HR
Do you have information to share with us?
Contact us
Article authors
Sophie Baqué
Our other services
mind Research
Strategic Intelligence: Tailored research and market analysis services to power your insights and back your strategic decisions.
See more
mind Days
Networking & Events: Half-day conferences covering key industry topics and open to the entire ecosystem.
See more
What you absolutely must read this week
The essential content of the week selected by the editorial team.
See all
How retailers are reinventing the checkout
As pressure on household budgets continues, new payment methods including account-to-account (A2A) instant payments, Wero, Buy Now Pay Later (BNPL), loyalty points and cashback, are gaining...
2 November 2026
Julien Cailleau, Oney: “With 3 retailers, we are testing the use of Valiuz data to streamline financing approvals”
Against a backdrop of growing pressure on household budgets, the European CCD2 Directive coming into force and a new legal framework for assisted purchasing journeys, Oney is stepping up an...
29 October 2026
Advantail signs with Formality to streamline commercial lease management
Amid an ownership shake-up following its acquisition by Evoriel, shopping centre operator Advantail has signed with Formality to digitise the management of commercial leases and contracts across...
23 October 2026
US retailers divided over the rise of autonomous shopping agents
In the US, Gap, Walmart, Best Buy, Amazon and eBay are taking very different approaches to agentic commerce. While TV shopping giants QVC and HSN see these new intermediaries as an opportunity to...
21 October 2026
Most viewed articles of the month on mind Retail
What readers clicked on the most last month.
What readers clicked on the most last month.
1
AI agents: the KPIs that led L’Oréal to scale up across its warehouses
After testing 7 AI agents in its warehouses, L’Oréal is scaling up. Deployed to coordinate picking waves, manage replenishment and handle stocktaking, Manhattan’s agents have helped cut several...
20 October 2026
2
How Mobilier de France reduced the share of cheque payments from 80% to 50%
With an average basket of €3,500 and a payment journey that includes a financial deposit at the time of ordering, Mobilier de France shares with mind Retail its assessment of the rollout of...
15 October 2026
3
Julien Cailleau, Oney: “With 3 retailers, we are testing the use of Valiuz data to streamline financing approvals”
Against a backdrop of growing pressure on household budgets, the European CCD2 Directive coming into force and a new legal framework for assisted purchasing journeys, Oney is stepping up an...
29 October 2026
4
Danone turns to AI to personalise marketing campaigns and test advertising in ChatGPT
AI is being rolled out across some marketing activities, while others remain in a testing phase. If campaign automation and personalisation are among the most advanced applications, visibility in...
16 October 2026