Category: Luxury Goods
Luxury Goods market research reports by Euromonitor International
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Luxury Goods in China
Luxury Goods in China Retail value sales of luxury goods in China grew by 6% in 2023 in current terms, to stand at CNY3 trillion. Growth in sales was fuelled by several factors during the post-lockdown period. One significant driver was a desire amongst affluent consumers to reward themselves after ... Read More
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Experiential Luxury in China
Experiential Luxury in China Tourist arrivals in China were seen to recover in 2023, despite global macroeconomic pressures such as high inflation and the rapid escalation of living costs. This was an improvement on previous years, when the pandemic prevented people from travelling. There was also a ... Read More
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Premium and Luxury Cars in China
Premium and Luxury Cars in China Value sales of premium and luxury cars rose by 4% to total CNY1.7 trillion in 2023, due to demand from higher-income consumers, with expenditure proving resilient in the face of macroeconomic headwinds. Wealth determines the degree of demand that exists for premium a ... Read More
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Shifting Channels in Luxury and Fashion
Shifting Channels in Luxury and Fashion After a dramatic rise during the pandemic, global growth in e-commerce sales in fashion has slowed with the easing of restrictions. As consumers become more discerning in their fashion spending in the context of high inflation and the climate emergency, buildi ... Read More
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Luxury in Saudi Arabia: The Story of Unlimited Opportunities
Luxury in Saudi Arabia: The Story of Unlimited Opportunities The global luxury goods industry is witnessing a recovery, and is expected to reach pre-pandemic levels in 2023. Gulf Council Countries like Saudi Arabia and the UAE witness are recovering, as the countries welcome tourists. The outlook re ... Read More
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Competitor Strategies in Travel
Competitor Strategies in Travel The travel industry is enjoying a robust recovery from the pandemic, but major issues, such as inflation, have begun to threaten that recovery. To address these issues, travel companies have remodelled loyalty programmes and are promoting budget-friendly brands to ent ... Read More
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Personal Luxury in Switzerland
Personal Luxury in Switzerland After the dynamic development in 2021, following a surge after COVID-19 lockdowns, designer apparel and footwear is set to produce more moderate growth in 2022, albeit faster than average compared to the review period. However, shopping patterns and tourism are not exp ... Read More
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Experiential Luxury in Switzerland
Experiential Luxury in Switzerland The experiential luxury landscape in Switzerland is entirely made up of luxury hotels, which in 2022, managed to post double-digit value growth once again. This resulted from inbound tourism flow following the outbreak of COVID-19, with tourism continuing to recove ... Read More
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Premium and Luxury Cars in Switzerland
Premium and Luxury Cars in Switzerland Luxury transportation started to record strong signs of recovery in value and volume sales terms in 2022, a sign that consumers have regained trust in the economy and their own financial security. Consumers that held back on investments and larger purchases dur ... Read More
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Luxury Goods in Switzerland
Luxury Goods in Switzerland In 2022, the majority of luxury goods in Switzerland will continue to perform well in both current retail value and retail volume terms, albeit lower than in 2021, due to high growth seen that year following the outbreak of COVID-19. In 2022, figures are set to be higher ... Read More
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Experiential Luxury in South Africa
Experiential Luxury in South Africa The hospitality industry in South Africa was brought to a halt by the pandemic due to restrictions on mobility and global travel, leading to several years of double-digit current value declines for experiential luxury (driven by luxury hotels). The country has a r ... Read More
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Premium and Luxury Cars in South Africa
Premium and Luxury Cars in South Africa Demand for premium and luxury cars notably declined in South Africa in 2020 as the pandemic began to take an economic toll on aspirational consumers. Unlike high net-worth individuals who are fairly price inelastic, consumers in the upper-income aspirational b ... Read More
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Personal Luxury in South Africa
Personal Luxury in South Africa The pandemic made the trading environment extremely difficult in South Africa, both in terms of footfall in specialist stores and product availability through supply chain challenges. As such, many stores that retail ready-to-wear designer apparel and footwear were fo ... Read More
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Luxury Goods in South Africa
Luxury Goods in South Africa Demand for luxury goods in South Africa is traditionally driven by different target audiences; aspirational consumers who want to be associated with luxury brands which are a status symbols which allow them to display an image of success, and affluent consumers who appre ... Read More
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Experiential Luxury in Poland
Experiential Luxury in Poland Having plunged by more than half during 2020 due to pandemic restrictions, retail constant value sales of experiential luxury in Poland rebounded strongly in 2021, as restrictions were eased somewhat, and this trend continued into 2022 – albeit at a much more modest gro ... Read More
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Premium and Luxury Cars in Poland
Premium and Luxury Cars in Poland Retail constant value sales (2022 prices) of premium and luxury cars declined sharply in 2020 on account of the pandemic, but they rebounded very strongly in 2021 as economic conditions stabilised– exceeding their pre-pandemic peak. Retail constant value sales conti ... Read More
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Premium and Luxury Cars in the United Arab Emirates
Premium and Luxury Cars in the United Arab Emirates Consumer spending on premium and luxury cars is set to see notable momentum in 2022, leading to full recovery in value and volume terms, reaching above the pre-COVID-19 levels. Many factors have contributed to this, such as the government issue of ... Read More
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Luxury Goods in the United Arab Emirates
Luxury Goods in the United Arab Emirates After showing strong signs of recovery in 2021, in 2022 luxury goods in the United Arab Emirates is set to witness almost full recovery from the deep decline in demand seen in 2020 as a result of the COVID-19 pandemic. The quick bounce-back has been driven by ... Read More
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Experiential Luxury in the United Arab Emirates
Experiential Luxury in the United Arab Emirates Early fully-fledged opening after COVID-19 restrictions ended was encouraged by the government, whilst incorporating strict safety, security and hygiene protocols across the country, which will contribute to recovery-led growth in 2022. Events such as ... Read More
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Personal Luxury in the United Arab Emirates
Personal Luxury in the United Arab Emirates Designer apparel and footwear has benefited from the resumption of retail activity close to that of pre-COVID-19 level, with regulations such as mask-wearing and stringent hygiene practices being carried out in-store and even through e-commerce operations. ... Read More
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Personal Luxury in Hong Kong, China
Personal Luxury in Hong Kong, China Unlike in mainland China, holding video calls for distance selling of designer apparel and footwear is not popular in Hong Kong. This was the case even during the most severe COVID-19 lockdown period, when pandemic-induced store closures were seen in Hong Kong. Th ... Read More
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Luxury Goods in Hong Kong, China
Luxury Goods in Hong Kong, China The luxury goods industry is set to continue to record a dynamic rebound in current value sales in 2022, after a year of dramatic decline in 2020 due to COVID-19. With the fifth wave of the pandemic involving the rapid spread of the Omicron variant, retail sales in H ... Read More
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Premium and Luxury Cars in Hong Kong, China
Premium and Luxury Cars in Hong Kong, China Despite global economic instability, premium and luxury cars showed resilience compared with other luxury goods categories in Hong Kong, as even before the pandemic, premium and luxury cars was not heavily reliant on tourists, unlike personal luxury. Sales ... Read More
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Experiential Luxury in Hong Kong, China
Experiential Luxury in Hong Kong, China Luxury hotels is expected to continue to see a moderate current value rebound in 2022. In the absence of international tourists, luxury hotels changed to a localisation strategy, with a massive pivot of their target audience. Compared with international touris ... Read More
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Diversity, equity and inclusion in luxury and Fashion: what’s here and what’s next?
Diversity, equity and inclusion in luxury and Fashion: what’s here and what’s next? After almost three years of a global pandemic and political and racial tensions increasing around the globe, issues surrounding Diversity, Equity, and Inclusion (DEI) have become more critical for luxury and fashion ... Read More
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