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Outlook

Global luxury to post flat growth at $1.6 trillion for 2024, sheds 50M customers in 2 years

November 13, 2024

Luxury brands have to work harder to win the loyalty of Gen Z customers, many of whom have shifted from the category over the past two years. Luxury brands have to work harder to win the loyalty of Gen Z customers, many of whom have shifted from the category over the past two years.

 

By Luxury Roundtable Intelligence

Leading headlines:

Global luxury spending, at $1.6 trillion, is flat for 2024 as 50M customers leave market and top customers question exclusivity value prop
Luxury consumers are prioritizing experiences over products amid economic and geopolitical uncertainty.

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SAVE THE DATE: Wednesday, Jan. 15, New York: Luxury Outlook Summit 2025: The Growth Imperative
Check back on LuxuryRoundtable.com for more details in a couple of weeks

Art collectors increasingly opportunistic this fall as they eye current market: report
A recalibrating auction market, an increasingly global ecosystem and evolving wealth management strategies present opportunities and challenges.

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Chocolate brown ends green’s run as top color, Murano-glass lighting is back: 2025 design trends report
Warm chocolate brown stakes its claim as designers’ top choice for the most popular color of 2025.

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2025 likely to be time of reckoning for many fashion brands: report
Judged purely by the topline, the fashion industry’s outlook for 2025 appears to be a continuation of the sluggishness seen in 2024

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Tania Bulhões, new owner of French porcelain icon Royal Limoges, eyes potential of US market in global homeware push
The U.S. expansion comes on the heels of a new flagship last in São Paulo, a network that comprises 40 stores and a new website that caters to international business.

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Inviting nominations for the Luxury Roundtable Awards for 2024
Luxury Roundtable is inviting nominations for five awards: Luxury Marketer of the Year, Luxury Brand of the Year, Luxury Retailer of the Year, Luxury Market Researcher of the Year and Luxury Personality of the Year. Submission deadline is Monday, Dec. 2 by 5 p.m. ET (New York time).

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