Luxury Goods in Australia
Retail value sales of luxury goods in Australia are notably slowing in 2024 compared to the double-digit growth rates of the previous two years. Nevertheless, growth is largely driven by premiumisation, as discerning shoppers become even more finely tuned to the timeless quality and value encapsulated by luxury purchases. On the other hand, retail volumes are substantially down year-on-year in premium and luxury cars, luxury jewellery, luxury timepieces, fine champagne, and luxury wearables elec...
Euromonitor International's Luxury Goods in Australia report offers a comprehensive guide to the size and shape of the Luxury Goods market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market and their effects on Luxury Goods retailing along with the development of consumers’ shopping patterns. Forecasts to 2028 illustrate how the market is set to change
Product coverage: Experiential Luxury, Fine Wines/Champagne and Spirits, Personal Luxury, Premium and Luxury Cars.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
* Get a detailed picture of the Luxury Goods market;
* Pinpoint growth sectors and identify factors driving change;
* Understand the competitive environment, the market’s major players and leading brands;
* Use five-year forecasts to assess how the market is predicted to develop.
- Luxury Goods in Australia
- Euromonitor International
- November 2024
- List Of Contents And Tables
- LUXURY GOODS IN AUSTRALIA
- EXECUTIVE SUMMARY
- Luxury shoppers become increasingly discerning as economic pressures impact demand
- Surging inflation, high interest rates and increased living expenses are among the economic headwinds impacting luxury goods
- Multinational automotive groups and French luxury conglomerates dominate competitive landscape of luxury goods in Australia
- Successful omnichannel approach to luxury facilitates consumer dialogue in the digital realm, while simultaneously rejuvenating city streets and retail precincts
- Improved outlook for premium and luxury cars, experiential luxury and fine wines/champagne and spirits
- MARKET DATA
- Table 1 Sales of Luxury Goods by Category: Value 2019-2024
- Table 2 Sales of Luxury Goods by Category: % Value Growth 2019-2024
- Table 3 Inbound Receipts for Luxury Goods by Country of Origin: Value 2019-2024
- Table 4 NBO Company Shares of Luxury Goods: % Value 2019-2023
- Table 5 LBN Brand Shares of Luxury Goods: % Value 2020-2023
- Table 6 Distribution of Luxury Goods by Format and Category: % Value 2024
- Table 7 Forecast Sales of Luxury Goods by Category: Value 2024-2029
- Table 8 Forecast Sales of Luxury Goods by Category: % Value Growth 2024-2029
- DISCLAIMER
- SOURCES
- Summary 1 Research Sources
- EXPERIENTIAL LUXURY IN AUSTRALIA
- KEY DATA FINDINGS
- 2024 DEVELOPMENTS
- Innovation, creativity, authenticity and indulgent novelty ensure dynamism within experiential luxury
- International players dominate luxury hotels across 5-star stalwarts and unique lifestyle luxe boutique options
- Potential long-term industry disruptor: AI’s relevance for today’s luxury customer
- PROSPECTS AND OPPORTUNITIES
- Travel recovery and demographic shift towards older, wealthier travellers likely to contribute to dynamic performance of experiential luxury
- A strong focus on sustainability means luxury hotels will look to differentiate their eco-credentials
- High occupancy rates anticipated for luxury hotels over the forecast period
- CATEGORY DATA
- Table 9 Sales of Experiential Luxury by Category: Value 2019-2024
- Table 10 Sales of Experiential Luxury by Category: % Value Growth 2019-2024
- Table 11 NBO Company Shares of Experiential Luxury: % Value 2019-2023
- Table 12 LBN Brand Shares of Experiential Luxury: % Value 2020-2023
- Table 13 Forecast Sales of Experiential Luxury by Category: Value 2024-2029
- Table 14 Forecast Sales of Experiential Luxury by Category: % Value Growth 2024-2029
- FINE WINES/CHAMPAGNE AND SPIRITS IN AUSTRALIA
- KEY DATA FINDINGS
- 2024 DEVELOPMENTS
- Luxury spirits leads the way as value growth is driven by luxury whiskies and vodka
- Premiumisation evident through consumer preference for considered craftsmanship, top-quality ingredients and authentic provenance
- Health-conscious drinking enters mainstream as non/low alcohol gains traction both locally and internationally
- PROSPECTS AND OPPORTUNITIES
- Higher alcohol duty, particularly on spirits, a factor to consider over the forecast period
- Aspirational global collaborations keep luxury spirits refreshed, rejuvenated and accessible to more diverse demographics
- Environmental, social and governance efforts within luxury spirits
- CATEGORY DATA
- Table 15 Sales of Fine Wines/Champagne and Spirits by Category: Value 2019-2024
- Table 16 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2019-2024
- Table 17 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2019-2023
- Table 18 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2020-2023
- Table 19 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2019-2024
- Table 20 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2024-2029
- Table 21 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2024-2029
- PREMIUM AND LUXURY CARS IN AUSTRALIA
- KEY DATA FINDINGS
- 2024 DEVELOPMENTS
- Accelerated growth stalls as demand softens in 2024
- Most robust performances geared around sustainability, performance, spaciousness, comfort and aspirational lifestyle-driven marketing
- Luxury plug-in hybrids record strong growth in 2024 as business buyers rush to take advantage of fringe benefits tax rules
- PROSPECTS AND OPPORTUNITIES
- Tesla sales set to be impacted by price cuts and consumer perceptions
- Federal Government investigates feasibility of autonomous cars on Australian roads
- Manufacturers adapt to Australians’ propensity for plug-in hybrid electric vehicles
- CATEGORY DATA
- Table 22 Sales of Premium and Luxury Cars: Value 2019-2024
- Table 23 Sales of Premium and Luxury Cars: % Value Growth 2019-2024
- Table 24 NBO Company Shares of Premium and Luxury Cars: % Value 2019-2023
- Table 25 LBN Brand Shares of Premium and Luxury Cars: % Value 2020-2023
- Table 26 Forecast Sales of Premium and Luxury Cars: Value 2024-2029
- Table 27 Forecast Sales of Premium and Luxury Cars: % Value Growth 2024-2029
- PERSONAL LUXURY IN AUSTRALIA
- KEY DATA FINDINGS
- 2024 DEVELOPMENTS
- Designer apparel and footwear (ready-to-wear) focuses on digital transformation to enhance sizing, manufacturing and accessibility
- No longer just functional and fashionable, luxury eyewear is set to leverage AI innovation
- Lab-grown diamonds capture inspired storytelling angle to uniquely make their mark on luxury jewellery in Australia
- Contemporary “quiet luxury” offers understated alternative to rising prices of luxury leather goods from established brands
- Tech advances within luxury wearables aligned with biohacking and wellness trends
- Global economic headwinds lead to slowdown in luxury timepieces, with decline in export volumes of Swiss luxury watches
- Sophisticated gifting remains a key driver of luxury writing instruments
- Australian luxury shoppers feel under increasing financial pressure in their beauty and personal care purchases
- PROSPECTS AND OPPORTUNITIES
- Post-pandemic performance hampered by global slowdown, but optimism offered by domestic spend and return of international tourists
- Second-hand market viewed as more sustainable, both for the environment and household budgets
- The role of e-commerce within personal luxury is constantly evolving
- CATEGORY DATA
- Table 28 Sales of Personal Luxury by Category: Value 2019-2024
- Table 29 Sales of Personal Luxury by Category: % Value Growth 2019-2024
- Table 30 NBO Company Shares of Personal Luxury: % Value 2019-2023
- Table 31 LBN Brand Shares of Personal Luxury: % Value 2020-2023
- Table 32 Distribution of Personal Luxury by Format: % Value 2019-2024
- Table 33 Forecast Sales of Personal Luxury by Category: Value 2024-2029
- Table 34 Forecast Sales of Personal Luxury by Category: % Value Growth 2024-2029
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