2024 Pdf [exclusive] | Bain Luxury Report

The 2024 edition, released in November 2024, had a somber yet resilient tone compared to the euphoric booms of 2021-2022. The report was titled “Back to Reality: The End of the Extraordinary Era.”

Perhaps the most significant negative surprise was the performance of mainland China. Once the engine of luxury growth, China experienced a "rapid slowdown" and a "sizable decline," dropping to the number four market position globally. This was driven by two factors: weaker domestic consumer confidence and a massive outflow of Chinese tourist spending to Japan and Europe. bain luxury report 2024 pdf

The 'core of the core'—the personal luxury goods market covering items like handbags, watches, clothing, and jewelry—dropped to €363 billion, a 2% decline at current exchange rates. This marks a drastic change from the recent past: in 2021-2022, 95% of brands were experiencing growth, but in 2024, that figure collapsed. According to the report, , down from two-thirds in 2023. The 2024 edition, released in November 2024, had

For professionals, investors, and enthusiasts looking to analyze the data further, searching for "bain luxury report 2024 pdf" will yield detailed insights from and Fondazione Altagamma . This article breaks down the core findings of that report. 1. Global Luxury Spending: A Shift from Growth to Stability This was driven by two factors: weaker domestic

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