Fidelity European retail begins to recover, but luxury goods market lacks cash buyers

By: Trademagazin editor Date: 2020. 07. 14. 11:28

As Europe is slowly recovering from the restrictions caused by the pandemic, the first data show that retail, one of the most loss-making sectors, may be experiencing a resurgence in demand.

The process is similar to that we saw in China when restrictions began to be lifted there in April. However, as for the European luxury goods market, the absence of wealthy Chinese tourists, who previously accounted for a good 40 percent of demand in the sector, makes the short-term outlook for the luxury goods market rather uncertain, according to Fidelity International.