Category: Luxury Goods
Luxury Goods market research reports by Euromonitor International
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Luxury Goods in Thailand
Luxury Goods in Thailand In 2023, luxury goods in Thailand continued to see an impressive recovery from the declines it recorded during the pandemic. This resurgence can be attributed to both the increase in spending among local consumers as well as the return of international visitors. A clear exam ... Read More
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Personal Luxury in Thailand
Personal Luxury in Thailand Personal luxury retail sales increased by 14% in current value terms to reach THB83 billion in 2023, taking them above 2019 levels for the first time since the pandemic arrived in Thailand. The category performance was supported by growth recorded by leading players like ... Read More
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Luxury Goods in the Philippines
Luxury Goods in the Philippines Retail value sales of luxury goods in the Philippines rose by 16% in 2023 in current terms to stand at PHP340.4 billion. The revival of shopping in person and the resurgence of travel and tourism presented favourable opportunities for consumers to indulge in upscale s ... Read More
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Premium and Luxury Cars in Thailand
Premium and Luxury Cars in Thailand Premium and luxury cars saw a particularly dynamic sales rebound in 2022, following the declines registered during the pandemic. Sales were up 40% in current value and 27% in volume terms in 2022, meaning that they had recovered to their pre-pandemic levels in all ... Read More
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Experiential Luxury in the Philippines
Experiential Luxury in the Philippines Despite macroeconomic adversity on a global scale, tourist demand in 2023 was on the rise, with a growing number of visitors taking their holidays in the Philippines. This represents an improvement on 2021 and 2022, when restrictions related to Coronavirus (COV ... Read More
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Experiential Luxury in Thailand
Experiential Luxury in Thailand The restrictions imposed on inbound tourism by the Thai Government in an effort to limit the spread of COVID-19 had a severe negative impact on the travel industry, including hotels. Experiential luxury, which is dominated by luxury hotels, saw its value sales more th ... Read More
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Personal Luxury in the Philippines
Personal Luxury in the Philippines Personal luxury retail current value sales increased by 11% in 2023 to total PHP198.2 billion, supported by the performances of leading brand owners, such as LVMH Moët Hennessy Louis Vuitton SA, Kering SA and Rolex SA. Growth was fuelled by investments in luxury go ... Read More
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Premium and Luxury Cars in the Philippines
Premium and Luxury Cars in the Philippines Retail current value sales of premium and luxury cars rose by 29% in 2023 to reach PHP38.2 billion. Higher demand came from higher-income consumers, with expenditure proving resilient in the face of macroeconomic headwinds. Wealth determines the degree of d ... Read More
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Personal Luxury in Hong Kong, China
Personal Luxury in Hong Kong, China Personal luxury retail value sales rose by 12% in 2023 to reach HKD90.5 billion, supported by growth recorded by leading brand providers, such as Richemont Asia Pacific Ltd and Rolex (Hong Kong) Ltd. The resumption of international travel greatly benefited persona ... Read More
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Personal Luxury in Singapore
Personal Luxury in Singapore Personal luxury retail value sales increased by 9% in 2023 to total SGD6.2 billion, supported by growth recorded by leading brand providers, such as Rolex Singapore Pte Ltd and Chanel (S) Pte Ltd. 2023 sales growth was fuelled by investment in luxury goods such as luxury ... 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 fell by 3% to total HKD20.2 billion in 2023. After two years of exceptionally strong growth in 2021 and 2022, sales were unable to be maintained at this high level. Nevertheless, sales remained significantly higher th ... Read More
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Experiential Luxury in Switzerland
Experiential Luxury in Switzerland Tourist visitor levels in Switzerland recovered in 2023, despite global macroeconomic pressures such as high inflation and the rapid escalation of living costs. This is an improvement on previous years when the pandemic prevented people from travelling. Euromonitor ... Read More
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Experiential Luxury in Singapore
Experiential Luxury in Singapore Tourist visitor levels in Singapore were seen to rebound in 2023, despite global macroeconomic pressures such as high inflation and the rapid escalation of living costs. This represented an improvement on 2021 and 2022, when restrictions related to the pandemic were ... Read More
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Personal Luxury in Switzerland
Personal Luxury in Switzerland Personal luxury retail value sales increased by 4% in 2023 to reach CHF7.3 billion, supporting growth recorded by leading brand providers, such as Rolex SA and Omega Ltd. The 2023 sales growth was fuelled by investment in luxury goods such as luxury timepieces and desi ... Read More
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Premium and Luxury Cars in Singapore
Premium and Luxury Cars in Singapore Value sales of premium and luxury cars rose by 8% to total SGD4.5 billion in 2023, as higher-income consumers chose to buy a new luxury car, showing resilience in the face of macroeconomic headwinds. Wealth determines the degree of demand that exists for premium ... Read More
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Luxury Goods in Singapore
Luxury Goods in Singapore Retail value sales of luxury goods in Singapore increased by 11% in 2023 in current terms, to total SGD12.4 billion. Development was still widely defined by recovery and a return to more normal consumer behaviour in terms of working, shopping, travelling, and spending on lu ... 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 rose by 12% in 2023 in current terms, to amount to HKD124.7 billion, exceeding the pre-pandemic level of sales. The revival of shopping in person, socialising, and the resurgence of travel and tourism presented favourab ... Read More
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Luxury Goods in Switzerland
Luxury Goods in Switzerland The collapse of Credit Suisse in March 2023 and its later purchase by rival UBS underpins the state of the Swiss market and revised perceptions of what used to be considered a stable financial centre. The instability within the Swiss financial sector has undoubtedly impac ... Read More
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Experiential Luxury in Hong Kong, China
Experiential Luxury in Hong Kong, China Despite macroeconomic adversity on a global scale, tourism demand was on the rise in 2023, with a growing number of visitors taking their holidays in Hong Kong. This represented an improvement on 2021 and 2022, when restrictions related to COVID-19 were still ... Read More
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Premium and Luxury Cars in Switzerland
Premium and Luxury Cars in Switzerland Value sales of premium and luxury cars fell by 6% to total CHF5.8 billion in 2023. Wealth determines the degree of demand that exists for premium and luxury cars, and sales are reliant on high consumer confidence amongst a niche consumer demographic. Premium an ... Read More
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Experiential Luxury in Germany
Experiential Luxury in Germany Following the loss of inbound arrivals due to restrictions on travel during the pandemic, tourist visitor levels in Germany were continuing to recover in 2023, despite global macroeconomic pressures such as high inflation and the rapid escalation of living costs. Eurom ... Read More
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Luxury Goods in Germany
Luxury Goods in Germany Retail sales of luxury goods in Germany increased by 2% in current value terms to reach EUR62.5 billion in 2023. Luxury goods had seen two years of declining sales in 2020 and 2021, with its performance heavily impacted by the various measures put in place across these years ... Read More
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Premium and Luxury Cars in Germany
Premium and Luxury Cars in Germany Retail volume and value sales of premium and luxury cars were hit hard by the pandemic, in both 2020 and 2021, as many car manufacturers were operating at lower capacity and showrooms were closed for business during lockdowns. On the consumer side, economic uncerta ... Read More
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Personal Luxury in Germany
Personal Luxury in Germany Personal luxury retail sales increased by 9% in current value terms to EUR13.9 billion in 2023, supported by growth recorded by leading players such as Louis Vuitton Deutschland GmbH. Growth in 2023 was also being fuelled by investment in luxury goods such as designer appa ... Read More
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Personal Luxury in China
Personal Luxury in China Personal luxury retail value sales grew by 15% in 2023 to amount to CNY413.1 billion, thanks to growth recorded by leading brand providers such as LVMH Fashion (Shanghai) Trading Co Ltd, Richemont SA, Cie Financière, and LVMH Moët Hennessy Louis Vuitton SA. Sales growth in 2 ... Read More
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