Challenges faced by the luxury industry France 2020

In 2020, 63 percent of professionals of the luxury industry thought that corporate social responsibility (CSR) was one of the biggest challenges companies in the sector were facing. Many of the respondents (41 percent) also picked winning young customers as one of the main challenges. Customer relationship management (CRM) ranked last with around 20 percent of luxury professionals considering it a major challenge.

What are the most important challenges the luxury industry is currently facing?

Characteristic	Share of respondents
Corporate social responsibility (CSR) commitment	63%
E-commerce development	43%
Expanding customer base to younger generations (Millenials and Gen Z)	41%
Origin of products and relocation of production	41%
Digitalization of companies	33%
Customer relationship management (CRM)	19%

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Release date

December 2020

More information

Region

France

Survey time period

November 19-29, 2020

Number of respondents

188 respondents

Special properties

Luxury professionals (management, brand managers, marketing directors, agencies specialized in luxury...)

Method of interview

Online survey

Supplementary notes

This question was phrased by the source as follows: "Which of the following statements represent the 3 most important challenges for luxury companies according to you?"
The source did not specify the age of the respondents.

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