“The nouvelle vague – the new wave – of the luxury goods market will demand evolution amid disruption, adaptation amid uncertainty, and an expansion of creativity in all of the basics – all while new trends and concepts develop”, said Claudia D’Arpizio, a Bain & Company partner and leader of Bain’s Global Luxury Goods and … Read more
Global Personal Luxury Goods Market On Track For Recovery. Two possible scenarios for the luxury industry rebound in 2021. Following a turbulent year, the luxury market has started its path towards recovery. The luxury industry returned to growth in the first quarter of 2021, growing by 0-1% versus 2019, which is viewed by the … Read more
2020 luxury industry drop is the largest recorded since global consultancy have been tracking the industry. Covid-19 Crisis Pushes Luxury To Sharpest Fall Ever But Catalyses Industry’s Ability To Transform. Bain & Company Luxury Study. It has been a year of profound global change in the way we live, the way we shop … Read more
The global luxury market confirmed this year the moderate growth rate associated with the ‘new normal’ era, mainly driven by Asian buyers. “The luxury customer is present and increasingly active, dramatically rewriting the rulebook of the industry. Brands will need to pivot to a new model to respond to customers’ needs when it comes … Read more
The beauty, fine wines and spirits, and fine food segments all grew, reflecting a redirection of luxury spending away from goods and toward personal pampering and experiences. Last 12 months, the luxury consumption shifted away from goods and toward experiences such as travel and gastronomy, which grew faster than luxury goods by at least 5 … Read more
Luxury consumers are redirecting their spending toward new and more personal high-end experiences. Study. The personal luxury goods industry managed to hold steady amid global geopolitical uncertainty, says Bain & Company‘s annual global luxury study. According to new data, under the surface of the high-end market’s increasing stability lies meaningful dynamism with a clear separation … Read more