Luxury is transforming, as an evolving marketplace, consumer pressures and changing consumer expectations take shape. In uncertain times, the industry shows resiliency as luxury consumers continue to spend.
With every brand expansion and venture into new territory – from social change to streaming and the Metaverse – we see brands embracing the rise of relevance, connecting with culture and people across generations and the globe while remaining true to their identity and true to luxury.
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By 2030, younger generations (Generations Y, Z, and Alpha) will become the biggest buyers of luxury by far, representing nearly 85% of global purchases
The luxury goods market is expected to grow annually by 4.4% (CAGR 2024-2029)
The top 2% of consumers account for over 40% of luxury sales
