Luxury Goods

In the upcoming years, consumers and businesses face an array of challenges, with income inequality, mass migration and rising uncertainty about another crisis being among the major ones. Nevertheless, within this lie untapped opportunities. This…

Despite consumers’ overall spending power being affected by numerous domestic and global issues, including rising inflation, uncertainties due to the war in Ukraine, and overall increased living costs, the US has seen a return of tourists in 2023.…

Value sales of fine wines/champagne and spirits grew by 4% to total USD13.4 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 the US grew by 6% in 2023 in current terms, to stand at USD264.8 billion. Growth within luxury goods was positive despite headwinds caused by the cost-of-living crisis, inflation, and the war in Ukraine. The…

Personal luxury retail value sales grew by 5% in 2023 to reach USD105.2 billion, supported by growth recorded by leading brand providers, such as LVMH Moët Hennessy Louis Vuitton Inc and Capri Holdings Ltd. Sales in 2023 were boosted by consumers…