An estimated 50 million luxury consumers have either opted out or been priced out of the market over the last two years.
Luxury in Transition: Securing Future Growth - Bain & Company 18 Jan 2025 — bain luxury report 2024 pdf
The Bain-Altagamma Luxury Goods Worldwide Market Study (Fall 2024) indicates global luxury spending is stable at approximately €1.5 trillion, with a significant shift toward experiential luxury and a 2% contraction in personal luxury goods. The market is experiencing a "normalization" phase marked by a reduced customer base, regional divergence, and a preference for value-seeking in beauty and secondhand goods. For the full, detailed analysis, visit the Bain & Company website Bain & Company An estimated 50 million luxury consumers have either
Luxury outlets and the secondhand market (now valued at €48 billion) are overperforming as shoppers seek better value for their money. Strategic Recommendations for Brands For the full, detailed analysis, visit the Bain