While most sectors struggled to find their feet post-pandemic, the luxury sector enjoyed considerable resilience, which continued in 2023 with an estimated 8-10% upswing. All this at a time when most consumers are in the middle of a cost of living crisis.
What this statistic doesn’t reveal is the variety of trends behind this market expansion, as the sector continues to evolve for brands, retailers and consumers across geographies and generations. It also masks a unique set of challenges adding pressure on many luxury players to keep their competitive edge and agility.
Read our guide for a quick view on the 10 trends shaping the luxury sector in 2024.
