Bain Luxury Report — 2024 Pdf
Looking ahead, Bain foresees a . After a difficult 2024, the report forecasts a flat 2025 for personal luxury goods at constant exchange rates, with a mild 2% erosion projected at current rates. A recovery is anticipated in the second half of 2025 or early 2026 , contingent on the stabilization of key economies like China and the absorption of recent price increases.
One of the key trends shaping the luxury market is the growing importance of sustainability. Consumers, particularly younger generations, are increasingly concerned about the environmental and social impact of their purchasing decisions. In response, luxury brands are prioritizing eco-friendly materials, reducing waste, and promoting recycling. For instance, many luxury fashion brands are incorporating sustainable materials, such as organic cotton and recycled polyester, into their collections.
: For the first time since the 2008 financial crisis (excluding the pandemic), the personal luxury goods market declined, dipping 2% to €363 billion at current exchange rates. bain luxury report 2024 pdf
. You can view more detailed summaries of these findings on the official Bain & Company insights page from the report or more information on regional trends like the shift in China?
In the long term, however, the outlook remains positive. Bain predicts a return to solid, low-to-mid-single-digit growth, driven by anticipated increases in global wealth and the expansion of the luxury consumer base, particularly from emerging markets in Latin America, India, Southeast Asia, and Africa. Looking ahead, Bain foresees a
The full PDF analysis highlights significant divergence across geographical regions: Performance Trend +12% to +13% Favorable exchange rates (weak Yen) and a surge in tourism. Europe +3% to +4%
The report concludes that while 2024 was challenging, long-term fundamentals remain solid, with the market expected to grow to €2 trillion–€2.5 trillion by 2030 One of the key trends shaping the luxury
For the first time since the Great Recession—excluding the anomaly of the 2020 pandemic lockdowns—the personal luxury goods market is experiencing a notable slowdown. While overall luxury spending across all nine tracked segments sits at roughly €1.48 trillion, performance varies wildly between experiences and tangible products.
GLOBAL LUXURY MARKET 2024 (Total: €1.48 Trillion) │ ┌───────────────────────────────┴───────────────────────────────┐ ▼ ▼ Experiential & Asset-Heavy Segments Personal Luxury Goods (Luxury Cars, Cruises, Fine Dining) (Fashion, Watches, Leather) Status: Growing / Resilient Status: First Non-COVID Driven by: Shift to experiences Slowdown Since 2008 (-2%)