Marketing Strategies and Changes in Times of Crisis Comparing High-end and Low-end Brands During the Pandemic

This is the authors' abstract. We don't add key points for this paper.

Several studies have revealed how Covid-19 impacts consumer behavior, including avoiding buying high-end products and luxuries, increasing cautious considerations about whether they need the product, etc. More than that, studies outlined how brands cope with strategies in times of crisis like dropping prices to boost demand, making good use of social media to expand brand awareness and attract consumers and so on. However, the comparison between high-end and low-end brands during the pandemic remains to be accomplished. Here we report the brand strategies high-end product(LVMH) and low-end product (SMFK) are using to face the crisis, and surveys on consumer behavior change during Covid-19 to further confirm the analysis above. Furthermore, the taste change in fashion shopping after Covid-19 is investigated through interviews and surveys. In times of crisis, low-end products are more likely to survive, maintain in times of crisis like pandemic.