While Italy is taking the first steps into Phase 2 of the coronavirus pandemic, China has entered the heart of what we call the “new normality”.
Valentina Salice (Head of Business Development), Luca Centurioni (Strategic Director), Antonio Montesano (Head of Digital) at OMD Italy had a video chat with Kevin Mann (General Manager for New Business Development and Marketing) and Mimi Lu (Head of Strategy) at OMD Shanghai to share some key points and insights about what ‘new normal’ means for people, brands and communication.
Compensation is the real truth behind “revenge spending”. This is what we have called the increase in purchases on the Chinese luxury goods market, to reward itself after a long period of stasis. This trend is all the more evident on imported goods (from accessories to cars), whose stocks could run out in the last two quarters of the year. With regard to consumer goods, we prefer to speak of ‘compensation’, that is, the desire to restore a post-emergence normality.