Luxurytravelers are willing to spend more but are mindful of rising costs, seeking value that enhances their experiences. This makes their relationship with a trusted travel advisor even more essential.
Strong price increases returned to the sector in 2022– 2023, led by leadingluxurybrands such as CHANEL, Dior, Louis Vuitton, and Rolex. This enabled smaller brands in the industry to follow suit. (ASP increased by 8% but volumes declined by 10%).
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We engaged withluxuryclients in key markets to better understand their values, needs and expectations for the future. Global social media posts and online content created byluxurycustomers analyzed across selected platforms (Instagram, TikTok, Reddit, Weibo), in partnership with Quilt.AI.
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Dec 12, 2024 ·With the exception of ultra-luxuryproducts, such as watches and jewelry – for certain brands – all products are affected. Early 2025 results confirm this trend.Luxurybrands are caught in this turmoil and are being forced to rethink their strategies, although they are affected to varying degrees.
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PersonalLuxuryis the common denominator across topluxuryspenders – but engagement spans far wider, with a health-as-wealth mindset on categories such as wellness/beauty
Luxurysales in China fuelled around 40 percent of globalluxurygoods growth from 2019 to 2023, while the US drove around 30 percent and Europe around 10 percent.
