Retail sales of luxury goods in France increased by 8% in current value terms to reach EUR37.6 billion in 2023.
Faced with the current high level of instability in key fundamental areas of its economy, the overall outlook for luxury goods in the France is being challenged. Among the problems are distribution across the French luxury goods market, which faces challenges due to the French political scene, in particular political protest taking place across the capital of Paris, which serves as one of the world leading luxury shopping destinations, perceptions of corruption, which is eroding the public’s trust in governance, a cost-of-living crisis and high inflation, which is negatively affecting the economy and luxury sales through lower discretionary spending.
Luxury goods remains highly competitive. With consumers thinking more about what they spend money on and buy, luxury players are putting value creation at the forefront of innovation, ensuring that that the products and services they sell are attractive to consumers.
Luxury retail is currently undergoing changes, with digitalisation altering where consumers shop and how they engage with luxury brands and retailers. This is leading to consumers now seeking out luxury brands online, shifting away from traditional retail spaces.
A rosy future is predicted for luxury goods, with pent-up demand that built up during the pandemic expected to result in consumers increasingly purchasing high-end products during the forecast period. Retail sales of luxury goods in France are expected to rise at a CAGR of 6% in current value terms (4% CAGR at constant 2023 prices) over the forecast period to reach EUR51.
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Understand the latest market trends and future growth opportunities for the Luxury Goods industry in France with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Luxury Goods industry in France, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Luxury Goods
This is an aggregation of: Personal Luxury, Fine Wines/Champagne and Spirits, Luxury Cars and Experiential Luxury.
See All of Our DefinitionsThis report originates from Passport, our Luxury Goods research and analysis database.
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