Global Luxury Retailing 2019-2029

Global Luxury Retailing 2019-2029

Summary

Global Luxury Retailing 2019-2029 provides analysis, trends, market forecasts, and brands in the global luxury retail market between 2019-2029

Key Highlights

• After a strong boost in luxury sales during 2023, the global luxury market saw a decline of 2.7% to reach $462.3 billion in 2024 due to a loss in consumer confidence caused by rising economic uncertainty and the resulting shift in consumer spending towards essentials.
• Despite a decrease in regional market share from 36.3% in 2019 to 34.8% in 2024, the Asia-Pacific region remains the dominant force in the global luxury market. This area boasts a significant number of young, affluent consumers and an increase in tourist arrivals.
• LVMH continues to dominate the global luxury market in 2024, securing a 24.3% share of the global luxury market despite a sales decline of 3.6% caused by a dampened demand for its fashion and leather goods.

• Growth of global luxury slows amid declining consumer confidence and rising economic uncertainties
• Luxury market in APAC dominates but growth stalls; Americas shows robust growth driven by increasing tourism and store openings
• Demand for LVMH declines despite strong growth momentum for its selective retailing business unit (Sephora, DFS, and Le Bon Marché)

• Gain comprehensive knowledge of the global luxury retail market and develop a competitive advantage
• Investigate current trends in the global luxury retail markets to identify the best opportunities to exploit
• Analysis of key luxury retail players operating globally
• Explore opportunities that will allow you to align your product offerings and strategies to meet demand by analyzing the key consumer and technology trends influencing the luxury retail markets globally
• Analyze the recommended actions to align your marketing strategies with the crucial trends influencing consumer behavior
• Analysis of key international players operating in global luxury retail market - including market shares and revenues that give you a competitive edge and identify opportunities to improve your strategy