How Did Luxury Brands Do to Overcome the COVID-19

By  Qinglong Ma
Received: 2020-12-28 / Accepted: 2021-1-11 / Published: 2021-1-13
PDF Main Manuscript (233.22 KB)  DOI: https://doi.org/10.37906/isteamc.2021.1
Abstract 2020 is destined to be a year written in history. There is an unprecedented global outbreak of plague. By December 2020, there have been more than 78 million cases in the world, and more than 17 million patients died. The epidemic not only causes huge casualties in the world, but also has a huge impact on the economic world, especially for the luxury industry since the interests of the luxury industry largely depend on physical stores, offline services and other physical profit-making methods. The social isolation caused by the epidemic will greatly affect the income of offline services. This paper will make a detailed analysis of how the luxury industry spent the epidemic from three aspects: raising the price, increasing brand online operation services, and strengthening brand culture and product innovation. This paper will point out the excellent enterprises and brands in the face of difficulties in the face of excellent adaptability, as well as the brand internal management personnel excellent economic mind and wisdom. [More...]

China's Annual Turnover of “Double Eleven Global Carnival” after COVID-19

By  Yidou Fan
Received: 2020-12-26 / Accepted: 2021-1-11 / Published: 2021-1-13
PDF Main Manuscript (364.51 KB)  DOI: https://doi.org/10.37906/isteamc.2021.2
Abstract The annual Double Eleven Global Carnival came to an end not long ago. Although the Double Eleven has just been founded for 11 years, it has become one of the most influential projects in the world with its amazing total sales and sales speed and its amazing influences. For 2020, compared with previous years, whether from the perspective of customer demand or the cash flow of the business itself, it seems to be unfavorable to the sales of Double Eleven. But unexpectedly, even though the economy of many enterprises in many countries has stagnated due to the epidemic, the volume of business this year has increased significantly. Moreover, the Double Eleven continued the style of previous years. It continued to expand overseas markets, and achieved win-win situation while cooperating with other countries. In fact, there are many factors behind such a seemingly strange phenomenon.  [More...]

Effects of Unemployment Caused by Pandemic

By  Zirui Deng
Received: 2020-12-27 / Accepted: 2021-1-21 / Published: 2021-1-28
PDF Main Manuscript (234.53 KB)  DOI: https://doi.org/10.37906/isteamc.2021.3
Abstract As COVID-19 spreads around the world, global financial markets are volatile. Faced with the severe situation of the rapid spread of the epidemic overseas, many countries have taken active prevention and control measures. Internally, limit or prohibit group activities to reduce the risk of crowd gathering; externally, border control, and strict travel restrictions are in place. But the most common accept solution advocated by many countries is to lockdown the cities to prevent further infection. This caused a high unemployment rate and has widened existing divides between professionals, low-paid workers, people of different races, and the young. This study is trying to evaluate the economic damage by the pandemic specific to unemployment. Through the researches, the effects of unemployment caused by the pandemic are extensive and severe. The unemployment reveals the discrimination of American society and the hardship of low-paid workers. It also lowers students’ efficiency. [More...]

Internet Platform Monopoly in China: A Case Study of Tencent

By  Xiangyi Ben
Received: 2020-12-24 / Accepted: 2021-1-21 / Published: 2021-1-28
PDF Main Manuscript (289.08 KB)  DOI: https://doi.org/10.37906/isteamc.2021.4
Abstract Monopoly in the field of Internet business has caused great controversy, and this study addressed this issue by closely examining a typical “big tech”, Tencent, in China’s Internet business, using a case study as a major approach to look into the source of the issue. Through the research, I found that, according to Tencent’s statistics with its positions in the market, its monopoly is a reality, and further analyzed the problems (stifling smaller competitors, exploiting workers, reducing consumer surplus) caused by such a monopoly and cited corresponding governmental policies (laws, regulations, fine), which are founded to be strong and immediate. Based on the findings, some practical implications are offered for both consumers and policymakers. [More...]