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These figures hold relevance for luxurygoods as well.Tiffany & Co. Therefore, innovate and adopt new methods to remain relevant and to keep driving sales. Because online purchases in the US reached an all-time high of $188.2 billion during 2020 holidays – a 32.2% increase from 2019 figures.
Unique distribution channels: Companies like Amazon have developed specialized distribution channels that allow them to reach customers in new and innovative ways. For instance, companies operating in heavily regulated industries may face increased competition due to restrictions on their capacity to innovate or enter new markets.
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