Luxury goods recovery: Optimism for luxury goods in a post-pandemic world

Euromonitor

Although the COVID-19 pandemic remains a significant constraint on luxury, more targeted lockdowns and greater consumer adaptation have reduced the impact of recent lockdowns on industry sales.
  • Global real GDP growth in 2021 is now expected to be the fastest in more than 40 years, which will go some way to help to improve consumer confidence.
  • Despite a sharp increase in sales, the experiential luxury category is beset by factors such as government health, travel and transport policies.
  • Luxury cars continue to navigate a period of change, as consumer attitudes towards car ownership and mobility shift into a new era.
  • Personal luxury goods are bouncing back strongly with over half of the revenues lost to the pandemic expected to be recovered by the end of 2021....

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