IN 2024, THE LUXURY MARKET HAD A CRUEL SUMMER, AND
INSTEAD OF GROWTH OF 5,5%, FELL DOWN ON A MODEST 2,85.
BUT
Revenue in the Luxury goods market amounts to US$473.90bn in 2024.
The market is expected to grow annually by 4.04% (CAGR 2024-2029).
The market’s largest segment is the segment Luxury watches & jewelry with
a market volume of US$157.60bn in 2024.
In global comparison, most revenue is generated China (US$102bn in 2024).
In the Luxury market, 15,5% of total revenue will be generated through online sales by 2024.
MARKET SLOWDOWN IN
Q1-Q2, WITH NUANCES
ACROSS REGIONS
AND STRONG BRAND
POLARIZATION
Forecasts predict the increase between 2024 and 2029 by in total 103.9 billion U.S. dollars (+21.92 percent). The revenue is estimated to reach 577.83 billion U.S. dollars and therefore a new peak in 2029.
REVENUE OF THE
LUXURY GOODS MARKET
WORLDWIDE IN 2025
AND 2029, BY COUNTRY
TRENDS &
SHIFTS
2024
CONSUMPTION
TURBULENCE
To secure future growth, brands will need to rethink their luxury equations, re-establishing creativity and blending old and new playbooks
EXPERIENTIAL
LUXURY WINNING
OVER TANGIBLE
LUXURY AGAIN
THE TOP OF THE PYRAMID DICTATES THE MARKET
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