KEY STATISTICS: Global sales of personal luxury goods will grow only 3.2% in 2024 to reach $429.15 billion, weighed down by slowing growth in the US and China, according to EMARKETER forecasts for August 2024. It is expected that.
Beyond the charts:
According to our Luxury E-Commerce 2024 report, the United States is expected to be the world’s largest market for personal luxury goods through 2028, accounting for approximately 25% of the total. According to the August 2024 EMarketer Luxury Survey conducted by BizRate Insights, shoppers between the ages of 18 and 34 are 2 more likely to purchase luxury goods on social platforms than older buyers. It has more than doubled.
Use this chart: Marketers and retailers can use this chart to help predict consumer trends, benchmark luxury sales, and strategize future advertising campaigns.
Related EMARKETER reports:
Note: Luxury products are characterized by a higher level of quality, craftsmanship, customer service, exclusivity, or rarity compared to the majority of products in a particular product category, and are priced at a premium. It’s a product.
Methodology: Estimates are based on data from other research companies, historical trends, reported and estimated revenues from major retailers, consumer purchasing trends, and analysis of macro-level economic conditions.
