Luxury Goods

In 2019, luxury goods remained a growing industry despite uncertainty in the country lingering as the new president Andrés Manuel López Obrador began his term in office. However, while the industry faced challenges, it also benefited from a stable ...

The industry of luxury goods in Germany performed positively during 2019 in current value terms. However, compared to the previous year’s results, the growth rate in 2019 was lower. Many factors underlie this performance, with almost all categories ...

The luxury goods market continued to show significant growth in 2019, driven by dynamism in a number of personal luxury categories. India has one of the youngest populations in the world, and designer apparel and footwear (ready-to-wear), luxury ...

A robust US economy coupled with the marketing savvy of global luxury brands led to growth across both experiential and personal luxury product categories in 2019. Millennials continue to drive consumers’ increasing inclination to spend their ...

The luxury goods market in Singapore saw improved growth overall in 2019, as experiential luxury, namely luxury hotels, and personal luxury, including designer apparel and footwear, luxury timepieces and super premium beauty and personal care, all ...

After dipping slightly in 2018, luxury goods current value sales rebounded in Australia in 2019. Overall growth was tempered somewhat by economic uncertainty and falling demand in the high-value luxury cars category. Nonetheless, the buoyancy ...

South Africa’s real GDP growth decelerated to a minimal level in 2019, while consumer spending suffered from sluggish rises in disposable income and tightening credit restrictions, causing many luxury shoppers to postpone purchases or consider the ...

Luxury goods sales continued to increase during 2019, despite only mild economic growth and the impact of public pension reform in 2018, which reduced public servants’ retirement funds and benefits, thus limiting purchasing power among mid to upper ...

In both demand and value terms, luxury goods in Romania continues to be underdeveloped compared to other European countries such as France, Italy and Germany as sales through much of this market remain limited to the wealthiest of consumers. However,...

Although luxury goods sales recovered in 2019 from the disappointing growth figures recorded in the previous two years, the increase in current value terms was still much lower than the dynamic rates seen in the 2014-2016 period. A continued shift ...

Overall value growth remained steady in 2019 for luxury goods, despite ongoing construction work obstructing luxury retailing zones in the Bloor-Yorkville area of Toronto and economic weakening in some parts of Canada. Growth was boosted by the ...

The economic uncertainty and currency fluctuations caused by the Brexit vote and the subsequent negotiations benefited luxury brands in the last few years as luxury goods continued to see growth in most categories, except for cars which were ...

With continued strong growth in 2019, China is becoming increasingly central to the global strategies of luxury goods brands, encouraging major multinational players to invest in local production, as well as tailoring their product development, ...

Value sales of luxury goods in Russia experienced a slowdown in 2019 compared to the previous year, as high economic polarisation of Russian society widened, following a fluctuating performance by the local economy from mid-review period onwards, ...

With the Swiss economy continuing to register positive figures in most areas, 2019 saw luxury goods in the country record its strongest current value growth for four years. Although the Swiss franc has strengthened again a little against the euro, ...

Luxury goods’ potential remains unrealised in Ukraine. While a more stable political and economic situation is improving disposable income levels, the share of the population able to afford such products is very low. Importantly, the middle class is ...

Luxury goods saw continued current value growth in 2019, with a similar increase to that seen in 2018. After a difficult economic time, towards the end of the review period Spaniards returned to enjoying higher disposable incomes. This could easily ...

Luxury goods saw a positive performance in 2019, with current higher current value growth than seen the previous year. After a challenging few years early in the review period, with a drop in tourist numbers in the aftermath of terror attacks, ...

Luxury goods continued to see healthy growth in current value terms in 2019 backed by rising incomes and steady economic growth. The number of high net worth individuals in Indonesia continues to grow at a steady rate which is supporting sales of ...

Argentina’s complex and uncertain economic situation remains at the forefront of most of the general trends in luxury goods in 2019. Diminished purchasing power due to currency depreciation has narrowed the consumer base for various categories, with ...