Category: Luxury Goods
Luxury Goods market research reports by Euromonitor International
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Where Consumers Shop for Luxury Goods
Where Consumers Shop for Luxury Goods The pandemic, cost-of-living crisis and high inflation continue to have an impact on affluent consumers, their wealth, and their shopping habits on luxury goods. Offline retail maintains its importance alongside e-commerce, as luxury consumers demand seamless in ... Read More
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Personal Luxury in Taiwan
Personal Luxury in Taiwan In 2024, retail value sales of designer apparel and footwear (ready-to-wear) rose by 3% to a total of TWD67 billion, with designer apparel (ready-to-wear) accounting for most value sales at TWD4 billion. While retail value sales benefited from inflation, volume increased to ... Read More
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Luxury Goods in Taiwan
Luxury Goods in Taiwan In 2024, retail value sales of luxury goods in Taiwan increased by 8% in current terms, reaching TWD 596 billion. Despite inflationary pressures, affluent consumers continued to invest in luxury experiences and high-end products, focusing on limited edition, customisable, and ... Read More
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Experiential Luxury in Taiwan
Experiential Luxury in Taiwan In 2024, sales of experiential luxury increased by 7% to amount to TWD11.3 billion, boosted by wealthier individuals enjoying travelling and dining out. Due to the COVID-19 outbreak, value sales declined by 46% to TWD5 billion in 2020. In 2024, figures exceeded the pre- ... Read More
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Premium and Luxury Cars in Taiwan
Premium and Luxury Cars in Taiwan Retail value sales of premium and luxury cars in Taiwan grew by 13% in 2024, reaching TWD 274 billion, up from TWD 241 billion in 2023. The demand for these high-end vehicles is closely tied to wealth, with sales performance heavily influenced by consumer confidence ... Read More
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Top Five Trends in Luxury Goods
Top Five Trends in Luxury Goods The global luxury goods industry continues to recover; however, luxury brands are beginning to feel the strain of sluggish global growth. Caution and uncertainty reign across the landscape amid these volatile conditions, and the industry will continue to be shaped by ... Read More
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Personal Luxury in Indonesia
Personal Luxury in Indonesia Collaboration has become a prominent strategy that has been observed among luxury brands and it had a significant impact on designer apparel and footwear (ready-to-wear) in 2024. These partnerships mainly included a mix of luxury brands and more accessible brands and cel ... Read More
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Experiential Luxury in Indonesia
Experiential Luxury in Indonesia According to the Ministry of Tourism and Creative Economy, the number of international tourists visiting Indonesia in 2024 saw double-digit growth compared to 2023. The key source markets were other ASEAN countries like Singapore and Malaysia, as well as visitors fro ... Read More
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Premium and Luxury Cars in Indonesia
Premium and Luxury Cars in Indonesia Sales of premium and luxury cars in Indonesia saw strong growth in 2023, although broader economic uncertainties and a cooling consumer demand were seen towards the end of the year. Despite this, sales of premium and luxury cars continued to deliver double-digit ... Read More
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Luxury Goods in Indonesia
Luxury Goods in Indonesia Sales of luxury goods in Indonesia saw a robust performance in 2024 supported by an economic recovery and healthy GDP growth. The number of High Net Worth Individuals (HNWIs) and Ultra High Net Worth Individuals (UHNWIs) in the country is rising while there was also an incr ... Read More
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Experiential Luxury in Switzerland
Experiential Luxury in Switzerland Experiential luxury has continued to double-digit growth in current value terms in 2024 as the market continued to recover from the negative effects of COVID-19. Sales have also benefited from an improvement in the Swiss economy. Nevertheless, the war in Ukraine an ... Read More
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Premium and Luxury Cars in Switzerland
Premium and Luxury Cars in Switzerland Sales of premium and luxury cars have declined in current value and retail volume terms in 2024. This represents two opposing trends in Switzerland whereby the demand for high-end, energy and fuel efficient cars that offer a higher level of comfort and safety k ... Read More
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Luxury Goods in Switzerland
Luxury Goods in Switzerland Switzerland’s economy has seen a moderate recovery in 2024 with low GDP growth. This provided a boost to consumer confidence although many consumers remain conservative in their non-essential spending. The performance of luxury goods has reflected this trend in 2024 with ... Read More
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Personal Luxury in Switzerland
Personal Luxury in Switzerland Designer apparel and footwear (ready to wear) has seen only modest growth in retail volume terms in 2024 while seeing more moderate growth in current value terms due to an increase in unit prices. Although the Swiss economy started to show signs of recovery in 2024 wit ... Read More
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Personal Luxury in the US
Personal Luxury in the US Designer apparel and footwear (ready-to-wear) in the US is expected to continue to lag behind the retail current value growth in the broader personal luxury category in 2024, despite continuing to account for the highest sales. In 2024, it is expected to see a modest 2% inc ... Read More
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Premium and Luxury Cars in the US
Premium and Luxury Cars in the US Premium and luxury cars in the US is set to maintain double-digit retail current value growth in 2024. Tesla Inc was the clear leader in premium and luxury cars in 2023. Its share of retail value sales went from 19% in 2021 to 33% in 2022. However, in 2023 Tesla’s s ... Read More
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Luxury Goods in the US
Luxury Goods in the US Retail current value sales of luxury goods are set to continue to grow in the US in 2024. Although growth is expected to remain solid, it will be slightly slower than in 2023, impacted by both global and local factors which are leading consumers to become more cautious. Intern ... Read More
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Experiential Luxury in the US
Experiential Luxury in the US The robust bounce-back in global travel has continued in 2024, marking a significant milestone, as travel flows are set to surpass the pre-COVID-19 level for the first time. The US ranks first in the World Economic Forum Travel & Tourism Development Index 2024, which is ... Read More
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Experiential Luxury in Australia
Experiential Luxury in Australia As wealthier consumers increasingly prioritise the pursuit of richer and more authentic experiences, instead of the acquisition of material objects, experiential luxury in Australia continues to register a robust performance in 2024. In part a response to peak consum ... Read More
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Premium and Luxury Cars in Australia
Premium and Luxury Cars in Australia The economic downturn, cost-of-living pressures, higher interest rates and resultant slowdown in consumer spending has finally impacted demand for premium and luxury cars in Australia. General market deliveries declined for the first time in June 2024, according ... Read More
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Luxury Goods in Australia
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 qu ... Read More
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Personal Luxury in Australia
Personal Luxury in Australia While retail value sales of designer apparel (ready-to-wear) in Australia continue to rise in 2024 (to reach AUD2.7 billion), retail volumes are fairly flat. Men’s designer apparel retail value sales growth (7%) is outpacing that of the women’s segment (3%), albeit from ... Read More
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Premium and Luxury Cars in South Africa
Premium and Luxury Cars in South Africa Premium and luxury cars continued to see strong growth in current value and retail volume terms in South Africa in 2024. A more stable rate of inflation in the country, alongside the growing number of affluent consumers has helped to sustain a healthy demand f ... Read More
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Personal Luxury in South Africa
Personal Luxury in South Africa Designer apparel and footwear (ready-to-wear) continues to record steady growth in current value terms in 2024, with designer apparel performing slightly better than designer footwear. Hugo Boss continues to be the leading player on the South African market, followed ... Read More
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Premium and Luxury Cars in Sweden
Premium and Luxury Cars in Sweden Premium and luxury cars remains a strong category in Sweden in 2024, despite overall economic uncertainty, inflationary pressures, and a weak local currency. This can also be evidenced by the fact that the leading players in luxury goods are also those who sell luxu ... Read More
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