Reasons to Read

Currently, consumer shopping behaviors are shifting due to a wide variety of factors, including digital advancements, changing demographics and evolving cultural dynamics; as such, luxury brands and retailers must reassess their traditional approaches and embrace new strategies to remain relevant and competitive. We explore three key trends that are driving growth in global luxury retailing and major players’ recent responses to changing market forces, providing valuable insights into the modern luxury market.

Data in this research report include:

• The size and growth of the global luxury market, broken down by geography, 2019–2028E
• Overseas tourist visits to Japan, 2019–March 2024
• Worldwide year-over-year high-end fashion travel spending growth for March 2024

Companies mentioned in this report include: Alibaba, Amazon, Burberry, Canada Goose, Capri Holdings, Compagnie Financière Richemont, JD.com, Kering, LVMH, Tapestry, Walmart

Other relevant research:

• Market Navigator: Global Luxury Retailing—Ultra Luxe and the China Market Stand Out as High-End Hitters
• Global Luxury—Retail 2024 Sector Outlook: Emerging Markets and Young Shoppers To Drive Growth
• Introducing “Fast Luxury” and Its Implications for the Retail Market
• Five Ways AI Is Being Used in Luxury Retail
• Visit the Coresight Research Fashion and Luxury Hub to explore sector data, reports and company profiles.