Personal luxury is set to see an early fully recovery in value sales terms (at constant 2022 prices) and record healthy growth over the forecast period. This will be heavily linked to the return of international travellers, with Australia’s borders reopening more broadly during 2022.
Demand for more interactive digital innovation and localised activity/services are anticipated to continue over the forecast period. Luxury retailers that adapted more quickly to changing demands and served Australian consumers via digital platforms performed better than those that took longer to shift online during the pandemic.
Alternative business models such as resale, renting or peer-to-peer sharing platforms are rapidly gaining ground in Australia. With consumers fast embracing these options due to sustainability concerns or because of financial constraints, more versatile and agile business propositions, such as renting and resale could unlock growth opportunities beyond ownership for the luxury goods industry.
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Understand the latest market trends and future growth opportunities for the Personal Luxury industry in Australia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Personal Luxury industry in Australia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This is an aggregation of Designer Clothing and Footwear (Ready-to-Wear), Luxury Eyewear, Luxury Jewellery, Luxury Timepieces, Luxury Leather Goods, Luxury Writing Instruments and Stationery, Luxury Portable Consumer Electronics and Super Premium Beauty and Personal Care.See All of Our Definitions
This report originates from Passport, our Personal Luxury research and analysis database.
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