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The United States is the second-largest luxury market, following Europe, worth about 100 billion euros ($106 billion), or nearly one-third of all global high-end sales of apparel, leather goods ...
The luxury goods market has been on an upward climb for many years. Apart from the setback caused by the 1997 Asian Financial Crisis, the industry has performed well, particularly in 2000. That year, the world luxury goods market was worth nearly $170 billion and grew 7.9 percent. [24]
It expects the global growth rate of the luxury industry to be just 1-3% between 2024 and 2027, with China and Europe, once the centers of luxury spending, contributing less to that expansion.
The personal luxury goods market is facing a significant slowdown in 2024, marking its first major decline (aside from the pandemic) since the global financial crisis. Bain & Company’s report ...
Chinese luxury goods consumers are younger than their European counterparts, belonging to the 18-50 age group, compared to Europe's consumers who are generally in the over 40 age group. For this reason, China's luxury goods market is expected to grow faster than that of Europe's. [5]
In marketing and financial services, mass affluent and emerging affluent are the high end of the mass market, or individuals with, in 2004 terms, US$100,000 (equivalent to $161,311 in 2023) to US$1,000,000 (equivalent to $1,613,108 in 2023) of liquid financial assets [1] plus an annual household income over US$75,000 (equivalent to $120,983 in 2023).
Middle East Second-hand Luxury Goods Market Size is Projected to Reach USD 3.5 billion by 2035, Growth at CAGR 13.3% | Report by Transparency Market Research, Inc. Wilmington, Delaware, United States, Transparency Market Research Inc. -, Sept. 24, 2024 (GLOBE NEWSWIRE) -- The Middle East second-hand luxury goods market ( 중고명품시장 ) is ...
Just a few years ago, China was the darling of luxe spending; from 2017 to 2021, the luxury market in the country tripled in size. Shoppers were obsessed with conspicuous consumption, and China ...