Luxury Marketer
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  2. More generations, more pressure in beauty and cosmetics market: report
  3. Nearly two-thirds of Europeans trying to reduce consumption over financial concerns: report
  4. Gen Alpha driving family decisions as Asian household spend to cross $10 trillion by 2030
  5. How to redefine retail stores as AI, convenience and shifting spending power shape behavior: report
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  7. Parent of Saks, Neiman Marcus gets nod for Chapter 11 exit, reorg plan in tough US luxury retail business Open to all readers
  8. US consumers building summer vacations around experiences over destinations
  9. Human-led hospitality – critical driver of workplace performance in every sector – being overlooked: report
  10. Gstaad tops list of most expensive holiday property markets in Europe’s Alpine region
  1. More generations, more pressure in beauty and cosmetics market: report
  2. Global superyacht industry turns into $62B economic force with influence beyond tourism: report
  3. Human-led hospitality – critical driver of workplace performance in every sector – being overlooked: report
  4. Personal luxury goods sector to grow ~2.5pc in 2026, down from anticipated 4-5pc: research
  5. Nearly two-thirds of Europeans trying to reduce consumption over financial concerns: report
  6. How to redefine retail stores as AI, convenience and shifting spending power shape behavior: report
  7. 3 questions every luxury brand founder must answer before year two
  8. Why luxury brands are monetizing proximity — and risking symbolic dilution in the process
  9. AI reshaping jobs faster than firms reshaping work: report
  10. Gstaad tops list of most expensive holiday property markets in Europe’s Alpine region
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Research

Report: Experiences drive global luxury market to end 2023 with record-high $1.63 trillion in sales

November 14, 2023

Asset rich, the wealthy and UHNW are quite resilient in market ups and downs. Image: Shutterstock Asset rich, the wealthy and UHNW are quite resilient in market ups and downs. Image: Shutterstock

 

By Mickey Alam Khan

The global luxury market is projected to reach $1.63 trillion in 2023, an 8-10 percent growth over 2022, setting a new record for the business and proving its resilience amidst geopolitical and economic uncertainty.

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MOST READ
  1. More generations, more pressure in beauty and cosmetics market: report
  2. Global superyacht industry turns into $62B economic force with influence beyond tourism: report
  3. Human-led hospitality – critical driver of workplace performance in every sector – being overlooked: report
  4. Personal luxury goods sector to grow ~2.5pc in 2026, down from anticipated 4-5pc: research
  5. Nearly two-thirds of Europeans trying to reduce consumption over financial concerns: report
  6. How to redefine retail stores as AI, convenience and shifting spending power shape behavior: report
  7. 3 questions every luxury brand founder must answer before year two
  8. Why luxury brands are monetizing proximity — and risking symbolic dilution in the process
  9. AI reshaping jobs faster than firms reshaping work: report
  10. Gstaad tops list of most expensive holiday property markets in Europe’s Alpine region


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