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Experiential Luxury in Australia

Publisher Euromonitor International
Published Nov 06, 2024
Length 23 Pages
SKU # EP19337916

Description

Experiential Luxury in Australia


As wealthier consumers increasingly prioritise the pursuit of richer and more authentic experiences, instead of the acquisition of material objects, experiential luxury in Australia continues to register a robust performance in 2024. In part a response to peak consumption, in part fuelled by the social media allure of “Instagrammable” moments, luxury players are able to leverage premium lifestyle elements to foster an enhanced customer experience and deeper brand engagement on an industry level.

Euromonitor International's Experiential Luxury in Australia report offers a comprehensive guide to the size and shape of the Experiential Luxury market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market and their effects on Experiential Luxury retailing along with the development of consumers’ shopping patterns. Forecasts to 2028 illustrate how the market is set to change

Product coverage: Luxury Foodservice, Luxury Hotels.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?
* Get a detailed picture of the Experiential Luxury market;
* Pinpoint growth sectors and identify factors driving change;
* Understand the competitive environment, the market’s major players and leading brands;
* Use five-year forecasts to assess how the market is predicted to develop.

Table of Contents

23 Pages
Experiential Luxury in Australia
Euromonitor International
November 2024
List Of Contents And Tables
EXPERIENTIAL LUXURY IN AUSTRALIA
KEY DATA FINDINGS
2024 DEVELOPMENTS
Innovation, creativity, authenticity and indulgent novelty ensure dynamism within experiential luxury
International players dominate luxury hotels across 5-star stalwarts and unique lifestyle luxe boutique options
Potential long-term industry disruptor: AI’s relevance for today’s luxury customer
PROSPECTS AND OPPORTUNITIES
Travel recovery and demographic shift towards older, wealthier travellers likely to contribute to dynamic performance of experiential luxury
A strong focus on sustainability means luxury hotels will look to differentiate their eco-credentials
High occupancy rates anticipated for luxury hotels over the forecast period
CATEGORY DATA
Table 1 Sales of Experiential Luxury by Category: Value 2019-2024
Table 2 Sales of Experiential Luxury by Category: % Value Growth 2019-2024
Table 3 NBO Company Shares of Experiential Luxury: % Value 2019-2023
Table 4 LBN Brand Shares of Experiential Luxury: % Value 2020-2023
Table 5 Forecast Sales of Experiential Luxury by Category: Value 2024-2029
Table 6 Forecast Sales of Experiential Luxury by Category: % Value Growth 2024-2029
LUXURY GOODS IN AUSTRALIA
EXECUTIVE SUMMARY
Luxury shoppers become increasingly discerning as economic pressures impact demand
Surging inflation, high interest rates and increased living expenses are among the economic headwinds impacting luxury goods
Multinational automotive groups and French luxury conglomerates dominate competitive landscape of luxury goods in Australia
Successful omnichannel approach to luxury facilitates consumer dialogue in the digital realm, while simultaneously rejuvenating city streets and retail precincts
Improved outlook for premium and luxury cars, experiential luxury and fine wines/champagne and spirits
MARKET DATA
Table 7 Sales of Luxury Goods by Category: Value 2019-2024
Table 8 Sales of Luxury Goods by Category: % Value Growth 2019-2024
Table 9 Inbound Receipts for Luxury Goods by Country of Origin: Value 2019-2024
Table 10 NBO Company Shares of Luxury Goods: % Value 2019-2023
Table 11 LBN Brand Shares of Luxury Goods: % Value 2020-2023
Table 12 Distribution of Luxury Goods by Format and Category: % Value 2024
Table 13 Forecast Sales of Luxury Goods by Category: Value 2024-2029
Table 14 Forecast Sales of Luxury Goods by Category: % Value Growth 2024-2029
DISCLAIMER
SOURCES
Summary 1 Research Sources

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