Luxury goods is expected to continue growing over the forecast, especially scarce and coveted products such as women’s luxury bags. However, sales of new luxury goods could be threatened by the growing popularity of pre-owned luxury goods.
E-commerce is expected to continue growing even as consumers return to brick and mortar stores. During the pandemic, consumers and retailers shifted to e-commerce, even for high priced luxury goods, with more people now feeling comfortable purchasing high ticket items online.
Healthy growth is expected over the forecast period for personal luxury, driven by a combination of domestic spending from wealthy Canadians and the expected return of international tourism. Aspirational spending is also expected to increase once the economy has fully recovered from the disruption created by the COVID-19 pandemic and once consumers feel greater confidence in the stability of the economy, their jobs and incomes.
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Understand the latest market trends and future growth opportunities for the Personal Luxury industry in Canada 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 Canada, 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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