The Bain-Altagamma Luxury Goods Worldwide Market Study for 2024 projects a "recalibration" for the global luxury market, with total spending plateauing at approximately €1.5 trillion and personal luxury goods experiencing a 2% erosion. The industry face a significant slowdown driven by the loss of aspirational consumers, declining engagement among Gen Z, and a shift in demand toward experiences over physical products. For the detailed report and findings, visit Altagamma . AI responses may include mistakes. Learn more
For deep dives and full data visualizations, you can access the following official summaries and reports: Luxury in Transition: Securing Future Growth (Bain Insights) Altagamma-Bain Spring 2024 Update PDF (Altagamma) 2024 China Luxury Goods Market Report (Bain China) Generation Z's bain luxury report 2024 pdf
For the first time in the report's 23-year history, the luxury customer base has contracted. The Bain-Altagamma Luxury Goods Worldwide Market Study for