Global luxury sales forecast a 2-3% drop in 2025, the first since the Great Recession, due to rising prices and instability.

Global luxury goods sales are expected to fall by 2-3% in 2025, marking the first decline since the Great Recession, according to a Bain & Company study. The market, valued at €363 billion, faces challenges from rising prices, global instability, and a shift towards less exciting "subtle luxury" products. The luxury customer base has shrunk by 50 million, and potential US tariffs could further strain European brands, making them more expensive for consumers.

November 12, 2024
44 Articles