The Global Outlook of Luxury Retail
Examining the global luxury sector and the trends behind consumers’ values and shopping patterns.
In 2021, the global luxury fashion market exceeded 2020 and 2019 levels, reaching $227.4 billion in sales as many brands have become more inclusive, and consumers have been eager to invest in new apparel and accessories.
In this report, we examine the trends we are seeing in the global luxury market, from sales, to the fastest growth market, and the retailers who announced recording breaking sales across the globe, including Chanel who tripled its prices in 2021. The U.S. remains the largest luxury market, recording $63.3 billion in luxury sales in 2021. As its loyal consumer base gains confidence in opening its wallets, luxury retail spending will reach nearly $258 billion globally by 2024. Download to read more.
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