Bain Luxury Report 2024 Pdf __top__ -

of brands achieved growth in 2024, compared to two-thirds in the previous year. Resale & Value Focus: The secondhand luxury market grew by

Once the primary engine of growth, China is currently struggling with low consumer confidence and a shift toward "luxury shame," where wealthy individuals avoid overt displays of wealth. However, Chinese outbound tourism is boosting luxury sales in Japan and Europe. 2. Japan: The Rising Star bain luxury report 2024 pdf

The luxury second-hand market and value-focused channels are gaining momentum as consumers look for more cost-effective ways to access luxury goods. 3. Regional Highlights: Who Won in 2024? of brands achieved growth in 2024, compared to

Are you interested in a deeper dive into the of a specific luxury category like jewelry or leather goods ? Regional Highlights: Who Won in 2024

Brands that have anchored their value in heritage and product quality are outperforming those chasing micro-trends.

The 2024 Bain-Altagamma Luxury Goods Worldwide Market Study highlights a significant turning point for the industry, marking the first real-term slowdown in 15 years (excluding the COVID-19 pandemic) . While total luxury spending reached approximately €1.5 trillion , the personal luxury goods segment dipped by to €363 billion at current exchange rates. Bain & Company Key Market Trends Shrinking Consumer Base: For the first time, the market lost an estimated 50 million customers

: Totaling €100 billion , the U.S. and Canadian markets experienced sluggish domestic store foot traffic. However, secondary growth in Brazil and Mexico prevented a deeper contraction.