Where consumers shop for luxury goods

An overview of store-based channels, non-store channels, non-retail channels, and future developments in the luxury goods industry from Euromonitor.
  • While the global luxury goods industry experienced 4% year-on-year growth driven by Asia Pacific and the US in 2023, macroeconomic factors continue to weigh heavily on industry recovery.
  • Building an omnichannel presence has become paramount for luxury retailers, as consumers seek a high level of customer service and distinctive experiences that only brick-and-mortar stores can deliver while still expecting the convenience of e-commerce.
  • Companies are increasingly prioritising store renovations and the incorporation of technology to cater to consumers' emerging expectations for in-store shopping.
  • In 2023, e-commerce accounted for 18% of sales - a significant increase from the 10% recorded in...

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