Luxury Goods

Retail sales of luxury goods in India increased by 3% in current value terms to reach INR553.8 billion in 2023. The post-lockdown period saw a focus on recovery and a revival of normal consumer behaviour, encompassing working, shopping, the…

Retail value sales of luxury goods in Japan grew by 4% in 2023 in current terms, to amount to JPY5.3 trillion. There was a clear focus on recovery post-lockdown, with luxury shoppers keen to indulge in activities that may have been off-limits during…

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…

Personal luxury retail sales increased by 11% in current value terms to reach INR256.2 billion in 2023, supported by growth recorded by leading players such as LVMH Watch & Jewellery India Pvt Ltd, Louis Vuitton India Retail Pvt Ltd and Hermès India…

Personal luxury retail value sales rose by 7% in 2023 to total JPY3.4 trillion, supporting growth recorded by leading brand providers such as Louis Vuitton Japan KK. In 2023, sales were boosted by investment in luxury goods such as designer apparel…

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…

Value sales of premium and luxury cars fell by 7% to INR245.9 billion in 2023. While supplies have improved, there is still a massive order backlog, with the waiting period for most luxury models stretching from two to 10 months. In addition, while…

Value sales of premium and luxury cars went down by 2% to total JPY1.5 trillion in 2023. A significant increase in sales was seen in 2022, as a rebound was seen as the pandemic eased, and this exceptional level of growth was unable to be sustained in…

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…

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…

Consumer demand has been shifting from manufactured goods back towards services. Due to this, value sales of experiential luxury grew by 13% to amount to KRW642 million in 2023, boosted by wealthier individuals resuming their normal activities,…

Value sales of fine wines/champagne and spirits grew by 16% to total HKD1.1 billion in 2023, boosted by consumers’ desire to enjoy themselves after the pandemic. Enjoying a drink with friends remains a priority leisure activity, following the…

Value sales of fine wines/champagne and spirits grew by 14% to total SGD99 million in 2023, as a result of a consumer desire to have fun and enjoy experiences after the pandemic. Socialising is a priority pastime for many consumers, following on from…

Value sales of fine wines/champagne and spirits grew by 8% to total KRW657.4 billion in 2023, boosted by consumers’ appetite for experiences and enjoyment after the pandemic. Enjoying a drink with a meal at home or when relaxing remains a key pastime…

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…

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,…

Retail value sales of luxury goods in South Korea rose by 18% in 2023 in current terms, to stand at KRW50.7 trillion. A combination of consumer indulgence, the release of pent-up demand, and the resumption of key activities, including travelling,…

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…

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…

Personal luxury retail value sales increased by 12% in 2023 to amount to KRW22.0 trillion, supported by growth recorded by leading brand providers, such as Louis Vuitton Korea Ltd and Richemont Korea Ltd. 2023 sales growth was fuelled by individuals…