Category: Luxury Goods
Luxury Goods market research reports by Euromonitor International
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Premium and Luxury Cars in Hong Kong, China
Premium and Luxury Cars in Hong Kong, China Value sales of premium and luxury cars are set to grow by 8% in current terms in Hong Kong in 2024 to total HKD16.1 billion. This will represent a return to growth, with sales having fallen dramatically in 2023 after two years of exceptionally strong growt ... Read More
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Premium and Luxury Cars in China
Premium and Luxury Cars in China Current value sales of premium and luxury cars are up by 3% to total CNY1.929 billion in China in 2024, thanks to persistent demand from higher-income consumers, with expenditure proving resilient in the face of macroeconomic headwinds. Wealth determines the degree o ... Read More
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Premium and Luxury Cars in Singapore
Premium and Luxury Cars in Singapore Retail value sales of premium and luxury cars rose by a significant 30% to a total of SGD5.2 billion in 2024, with wealthy consumers showcasing resilience in the face of macroeconomic challenges. Sales are heavily based on high consumer confidence amongst the wea ... Read More
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Luxury Goods in Singapore
Luxury Goods in Singapore Retail value sales of luxury goods in Singapore increased by 14% in 2024 in current terms to reach sales of SGD13.5 billion. Despite ongoing inflation, affluent consumers remained willing to invest in luxury experiences and premium products, especially limited edition and e ... Read More
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Luxury Goods in Hong Kong, China
Luxury Goods in Hong Kong, China Retail value sales of luxury goods in Hong Kong are set to rise by 8% in current terms in 2024, to amount to HKD144.9 billion. Hong Kong’s strategic location, strong economy, favourable tax policies, and reputation as a shopping destination have attracted luxury bran ... Read More
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Premium and Luxury Cars in the Philippines
Premium and Luxury Cars in the Philippines Sales of premium and luxury cars in the Philippines continue to be significantly influenced by the economic landscape in 2024. Therefore, the trends seen connected to urbanisation and the growth of the middle-class are helping to boost sales in premium and ... Read More
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Personal Luxury in Hong Kong, China
Personal Luxury in Hong Kong, China Retail value sales of designer apparel and footwear (ready-to-wear) are set to rise by 4% in current terms in Hong Kong in 2024 to stand at HKD22 billion, boosted primarily by sales of designer apparel (ready-to-wear), which accounts for 65% of overall value sales ... Read More
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Experiential Luxury in the Philippines
Experiential Luxury in the Philippines The growth of experiential luxury in the Philippines in 2024 is supported by ongoing urbanisation trends in the country, alongside an expanding middle-class segment of consumers and the lowering levels of inflation leading to stronger spending power. This is fu ... Read More
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Experiential Luxury in Thailand
Experiential Luxury in Thailand Value growth of experiential luxury in Thailand, driven by luxury hotels, is notably slowing in 2024, as part of a stabilisation trend following several years of dynamic sales performance when pandemic-related restrictions eased and consumers turned to “revenge” spend ... Read More
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Premium and Luxury Cars in Thailand
Premium and Luxury Cars in Thailand Overall demand for premium and luxury cars in Thailand remains buoyant in 2024, with the category contingent on wealth among a niche segment of high net worth individuals. Although Thailand’s economic situation remains uncertain, as it continues to be pressured by ... Read More
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Personal Luxury in Thailand
Personal Luxury in Thailand Following a significant decline in retail volume sales in 2020 as a result of store closures at the height of the pandemic, demand for designer apparel and footwear (ready-to-wear) in Thailand continues to recover in 2024. Growth is being supported by the ongoing return o ... Read More
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Luxury Goods in Thailand
Luxury Goods in Thailand Value sales of luxury goods in Thailand are growing steadily, driven by both local demand and the stronger return of international tourists. Bangkok is a particularly popular destination for personal luxury, as it is a hub for luxury shopping centres such as IconSiam, Siam P ... Read More
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Luxury Goods in South Korea
Luxury Goods in South Korea Retail value sales of luxury goods in South Korea rose by 9% in 2024 in current terms, to stand at KRW49.1 trillion. These positive results were driven by consumer indulgence, the release of pent-up demand on a post-pandemic landscape and heightened tourism. Strong market ... Read More
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Experiential Luxury in South Korea
Experiential Luxury in South Korea Retail value sales of experiential luxury grew by a significant 18% in 2024, reaching KRW1.1 billion, up from 1 billion in 2023. Ongoing growth is benefiting from a trend bolstered by the outbreak of COVID-19: a focus on services above manufactured goods. This focu ... Read More
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Premium and Luxury Cars in South Korea
Premium and Luxury Cars in South Korea Retail value sales of premium and luxury cars saw double-digit growth of 13% in 2024, with total sales of KRW26.4 trillion. The landscape continues to thrive despite inflation, while the macroeconomic situation has less impact on luxury and higher-income consum ... Read More
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Personal Luxury in South Korea
Personal Luxury in South Korea In 2024, retail value sales of designer apparel and footwear (ready-to-wear) rose by 5% to stand at KRW5.7 trillion. Sales are driven by designer apparel (ready-to-wear), specifically women's apparel, while men's designer apparel saw standout growth of 7%. Retail value ... Read More
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Experiential Luxury in Argentina
Experiential Luxury in Argentina Value sales of experiential luxury are set to more than double in Argentina over the course of 2024, mostly because of prices increasing due to high rates of inflation. 2023 was a year in which inbound tourism grew significantly in Argentina due to the existence of t ... Read More
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Personal Luxury in Argentina
Personal Luxury in Argentina Retail value sales of designer apparel and footwear (ready-to-wear) are set to more than double in current terms in Argentina in 2024. The year has marked a turning point for international designer apparel and footwear (ready-to-wear) brands whose collections are importe ... Read More
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Premium and Luxury Cars in Argentina
Premium and Luxury Cars in Argentina Value sales of premium and luxury cars are set to grow by more than 200% in current terms in Argentina in 2024. This will be mostly because of the increase in prices after the devaluation of December 2023, but also because, during the year, there was a strong inc ... Read More
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Luxury Goods in Argentina
Luxury Goods in Argentina Retail value sales of luxury goods are set to more than double in current terms in Argentina in 2024. The increase in the US dollar price that occurred when the new government came to office in December 2023, as a result of a devaluation of more than 100%, strongly affected ... Read More
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Premium and Luxury Cars in Brazil
Premium and Luxury Cars in Brazil Sales of premium and luxury cars are rising in Brazil in 2024 in both value (constant and current) and volume terms, though growth has slowed considerably since 2023. Wealthy consumers are showing heightened demand for sophisticated items including premium and luxur ... Read More
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Experiential Luxury in Malaysia
Experiential Luxury in Malaysia Luxury hotels have continued see dynamic growth in current value terms in 2024 although sales still remain well below pre-pandemic levels. As part of efforts to support the recovery of tourism in Malaysia the government has initiated various incentives to attract visi ... Read More
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Luxury Goods in Brazil
Luxury Goods in Brazil Retail sales of luxury goods in Brazil are increasing by 6% in current value terms to reach BRL45.7 billion in 2024. The post-pandemic recovery continues, with affluent consumers particularly focused on indulgence, with a shift away from possession and towards investment and e ... Read More
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Luxury Goods in Malaysia
Luxury Goods in Malaysia The demand for luxury goods in Malaysia continues to grow at a healthy pace in 2024 buoyed by renewed consumer confidence, an uptick in tourism and a rapid rise in the number of wealthy individuals in the country. The further expansion of luxury retail space in Malaysia is a ... Read More
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Experiential Luxury in Brazil
Experiential Luxury in Brazil Experiential luxury in Brazil continues to benefit from the recovery of travel and tourism in 2024, with inbound flows rising despite global macroeconomic pressures such as inflation and the rapid escalation of living costs. Consumers are increasingly taking on a “live ... Read More
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