Luxury Goods

Asia Pacific is the most dynamic region for personal luxury, underpinned by huge demand in China, high value sales and consumer affluence in developed markets such as Japan, South Korea and Hong Kong, and rising levels of expenditure in fast-growing ...

Worries about Coronavirus (COVID-19) and economic downturn have forced consumers to re-evaluate their life priorities and habits. With that the narrative in health, beauty and fashion has also changed to reflect newly emerged consumer priorities and ...

Early July 2020, Euromonitor published revised forecasts for luxury goods for 2020-2024 that considered the implications of the novel Coronavirus. Overall, Coronavirus (COVID-19) is expected to severely suppress global demand for luxury goods in ...

This report examines the impact of the Coronavirus (COVID-19) global pandemic on the luxury goods industry. Luxury shopping behaviour, channel dynamics and travel plans are seeing inevitable shifts as a result of lockdowns, as well as the closure of ...

Given that the UAE has become increasingly connected to the global economy, it is expected that the retail environment will incur some risks related to growing trade protectionism, heightened political uncertainty and financial market turbulence. One...

The last 30 years witnessed more damage to our planet than in the previous five billion years. Environmental threats and the need for sustainability are shaping how luxury companies do business, as well as how consumers show brand loyalty. This ...

The impacts of the Brazilian economic crisis of 2016/2017 have persisted in all industries, including luxury goods, usually the most resilient sector. Even though economic indicators have returned to a positive perspective with greater steadiness, ...

Luxury goods continued to perform well in current value terms in Thailand in 2019. Consumers see luxury brands as offering high levels of value through their heritage and exclusivity. Demand remains strong, with sophisticated millennials representing...

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 ...