Category: Luxury Goods
Luxury Goods market research reports by Euromonitor International
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Luxury Goods in Sweden
Luxury Goods in Sweden Luxury goods is seeing positive gains in Sweden in 2024, despite a challenging economic climate and rising financial uncertainty. Indeed, it is reported that around a third of local consumers have cited concerns about their financial situation due to higher debts and lower sav ... Read More
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Premium and Luxury Cars in Poland
Premium and Luxury Cars in Poland Premium and luxury cars has been the most dynamic area of luxury goods in Poland in 2024, recording double-digit growth in retail value and volume terms. Despite efforts from the government to encourage consumers to switch to electric and hybrid vehicles most Polish ... Read More
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Luxury Goods in Poland
Luxury Goods in Poland Sales of luxury goods have seen strong growth in current value terms in 2024, with most categories reporting positive growth. While bookings at luxury hotels have still not fully recovered to pre-pandemic levels the category has still seen strong in 2024. Premium and luxury ca ... Read More
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Luxury Goods in China
Luxury Goods in China Retail value sales of luxury goods in China are rising by 4% in 2024 in current terms, to stand at CNY3.26 trillion. Growth in sales is fuelled by consumers’ increased desire to live in the moment and enjoy life, as well as rising interest in purchasing luxury goods as investme ... Read More
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Personal Luxury in the Philippines
Personal Luxury in the Philippines Designer apparel and footwear (ready-to-wear) is increasingly incorporating digitisation in the Philippines in 2024, such as seen with Dior optimising 3D printing to amplify intricate designs and modernise its image. Hermès is also incorporating new printed designs ... Read More
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Experiential Luxury in Hong Kong, China
Experiential Luxury in Hong Kong, China Experiential luxury is set to see a modest rise of 3% in retail value sales in current terms in Hong Kong in 2024, to reach HKD15.6 billion. Value sales declined by 70% to HKD3.8 billion in 2020, but by 2023 had exceeded their pre-pandemic level of HKD12.7 bil ... Read More
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Personal Luxury in China
Personal Luxury in China Retail current value sales of designer apparel and footwear (ready-to-wear) in China are rising by 5% to stand at CNY93.78 billion in 2024 primarily boosted by sales of designer apparel. Growth is thanks to inflation and successful marketing that appeals to wealthy consumers ... Read More
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Experiential Luxury in China
Experiential Luxury in China Experiential luxury in China is benefitting from recovered tourist arrivals in 2024, despite economic pressures including rapidly rising living costs. Consumers continue to shift towards spending more money on meaningful and rewarding experiences and activities than on m ... Read More
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Experiential Luxury in Singapore
Experiential Luxury in Singapore In 2024, experiential luxury grew by a significant 17% to reach sales of SGD1.9 billion, boosted by wealthier individuals investing in travel and hotel breaks, with pent-up demand following COVID-19 continuing to shape the trend towards experiences above goods. Value ... Read More
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Luxury Goods in the Philippines
Luxury Goods in the Philippines Luxury goods in the Philippines is being supported by ongoing urbanisation in the country in 2024. Alongside the urbanisation trend, we are seeing increases in consumer spending and purchasing power, alongside growth in the number of premium retail outlets and luxury ... Read More
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Personal Luxury in Singapore
Personal Luxury in Singapore Retail value sales of designer apparel and footwear (ready-to-wear) rose by 4% to reach SGD1.3 billion in 2024, primarily driven by sales of women’s designer apparel (ready-to-wear), which recorded sales of SGD712 million. Euromonitor International's Personal Luxury in S ... Read More
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Premium and Luxury Cars in Hong Kong, China
Premium and Luxury Cars in Hong Kong, China Value sales of premium and luxury cars are set to grow by 8% in current terms in Hong Kong in 2024 to total HKD16.1 billion. This will represent a return to growth, with sales having fallen dramatically in 2023 after two years of exceptionally strong growt ... Read More
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Premium and Luxury Cars in China
Premium and Luxury Cars in China Current value sales of premium and luxury cars are up by 3% to total CNY1.929 billion in China in 2024, thanks to persistent demand from higher-income consumers, with expenditure proving resilient in the face of macroeconomic headwinds. Wealth determines the degree o ... Read More
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Premium and Luxury Cars in Singapore
Premium and Luxury Cars in Singapore Retail value sales of premium and luxury cars rose by a significant 30% to a total of SGD5.2 billion in 2024, with wealthy consumers showcasing resilience in the face of macroeconomic challenges. Sales are heavily based on high consumer confidence amongst the wea ... Read More
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Luxury Goods in Singapore
Luxury Goods in Singapore Retail value sales of luxury goods in Singapore increased by 14% in 2024 in current terms to reach sales of SGD13.5 billion. Despite ongoing inflation, affluent consumers remained willing to invest in luxury experiences and premium products, especially limited edition and e ... Read More
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Luxury Goods in Hong Kong, China
Luxury Goods in Hong Kong, China Retail value sales of luxury goods in Hong Kong are set to rise by 8% in current terms in 2024, to amount to HKD144.9 billion. Hong Kong’s strategic location, strong economy, favourable tax policies, and reputation as a shopping destination have attracted luxury bran ... Read More
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Premium and Luxury Cars in the Philippines
Premium and Luxury Cars in the Philippines Sales of premium and luxury cars in the Philippines continue to be significantly influenced by the economic landscape in 2024. Therefore, the trends seen connected to urbanisation and the growth of the middle-class are helping to boost sales in premium and ... Read More
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Personal Luxury in Hong Kong, China
Personal Luxury in Hong Kong, China Retail value sales of designer apparel and footwear (ready-to-wear) are set to rise by 4% in current terms in Hong Kong in 2024 to stand at HKD22 billion, boosted primarily by sales of designer apparel (ready-to-wear), which accounts for 65% of overall value sales ... Read More
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Experiential Luxury in the Philippines
Experiential Luxury in the Philippines The growth of experiential luxury in the Philippines in 2024 is supported by ongoing urbanisation trends in the country, alongside an expanding middle-class segment of consumers and the lowering levels of inflation leading to stronger spending power. This is fu ... Read More
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Experiential Luxury in Thailand
Experiential Luxury in Thailand Value growth of experiential luxury in Thailand, driven by luxury hotels, is notably slowing in 2024, as part of a stabilisation trend following several years of dynamic sales performance when pandemic-related restrictions eased and consumers turned to “revenge” spend ... Read More
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Premium and Luxury Cars in Thailand
Premium and Luxury Cars in Thailand Overall demand for premium and luxury cars in Thailand remains buoyant in 2024, with the category contingent on wealth among a niche segment of high net worth individuals. Although Thailand’s economic situation remains uncertain, as it continues to be pressured by ... Read More
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Personal Luxury in Thailand
Personal Luxury in Thailand Following a significant decline in retail volume sales in 2020 as a result of store closures at the height of the pandemic, demand for designer apparel and footwear (ready-to-wear) in Thailand continues to recover in 2024. Growth is being supported by the ongoing return o ... Read More
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Luxury Goods in Thailand
Luxury Goods in Thailand Value sales of luxury goods in Thailand are growing steadily, driven by both local demand and the stronger return of international tourists. Bangkok is a particularly popular destination for personal luxury, as it is a hub for luxury shopping centres such as IconSiam, Siam P ... Read More
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Luxury Goods in South Korea
Luxury Goods in South Korea Retail value sales of luxury goods in South Korea rose by 9% in 2024 in current terms, to stand at KRW49.1 trillion. These positive results were driven by consumer indulgence, the release of pent-up demand on a post-pandemic landscape and heightened tourism. Strong market ... Read More
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Experiential Luxury in South Korea
Experiential Luxury in South Korea Retail value sales of experiential luxury grew by a significant 18% in 2024, reaching KRW1.1 billion, up from 1 billion in 2023. Ongoing growth is benefiting from a trend bolstered by the outbreak of COVID-19: a focus on services above manufactured goods. This focu ... Read More
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