The pandemic decimated the economy, the job market, and consumer confidence, but it seems to have done little to quash a bonanza in digital ad spending.
Post-pandemic social conditions, a slowing economy (especially slower retail growth), and a renewed focus on brick-and-mortar will lead to slower ecommerce expansion in China in 2022. Consumers are tightening their belts amid long-term economic uncertainty. Although China has handled the coronavirus more successfully than most countries, GDP growth is expected to slow in both 2021 and 2022.
The US market for luxury fashion has experienced a post-pandemic rebound, driven by younger consumers, and the greater durability of high-end goods makes them prime candidates for resale. Young consumers looking to upgrade their wardrobes are finding that they can score better value from buying luxury goods via resale instead of new, mid-range products.
But post-pandemic, we forecast declines in TV time each year. It will lose 3.7% this year and drop another 2.2% next year. By 2024, daily TV time will be 2:52. In Quebec, time spent with TV is higher than in the rest of the country.
As a post-pandemic reality comes into clearer view, social engagements like weddings and industry conferences will see a huge rebound in 2022 as they make up for lost time. The uptick in events will translate to huge demand for bespoke fashionable attire, generating momentum for luxury rental platforms like Rent the Runway.