Consumer companies around the world are in limbo. They are groping in the dark due to a lot of variables in the current situation.
Many are non-essential businesses, others rely on logistics and physical goods to be delivered. Many businesses are forced to close by the government, due to the social distancing norms, even though the consumers need them.
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In order to calculate the GDP you must add all of these components:
In 2021 and beyond, ethical design will become a priority for businesses—especially when it comes to designing and manufacturing consumer products. Designers will lead the way to building a new consumer paradigm, one where a product’s story is as important as its price tag.
Many consumers who buy luxury goods are not in a financial position to afford luxury goods. They do not always act rationally and may spend thousands of dollars on a luxury brand that performs the same function as a similar durable item at a much lower cost.
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