Grew to €48 billion (+7%), as shoppers look for value and heritage pieces. The "Post-Elevation" Era: Recommendations for Brands
Moving away from "push marketing" and rediscovering brand essence and craftsmanship.
It’s free, authoritative, and the most cited source in luxury for a reason. Just pair it with McKinsey’s State of Fashion Luxury or BCG’s True-Luxury reports for a more rounded strategic view. bain luxury report 2024 pdf
Sustained by tourism in Southern Europe and Tier-1 cities like Milan and Madrid. -1%
Remained the largest region by market size, supported by strong tourism in Southern Europe despite flat local demand. 5. Strategic Outlook for 2025–2030 Grew to €48 billion (+7%), as shoppers look
This region saw a slight decline in performance, with a 1% to 2% decrease. 4. The Future of Luxury: Strategies for 2025 and Beyond
The global data hides massive regional disparities. The report outlines a map where traditional Strongholds are shifting, some regions are correcting sharply, and others are setting records. Just pair it with McKinsey’s State of Fashion
To access the Bain Luxury Report 2024, I recommend:
: The luxury market lost approximately 50 million customers over the last two years, largely due to high price increases and economic uncertainty affecting aspirational buyers.
The "Noisy Luxury" of the past (loud logos and viral collaborations) is giving way to "Quiet Luxury" and "Undercover Luxury." Consumers are increasingly skeptical of marketing hype.
The 2024 report highlights that luxury consumers are becoming more discerning, prioritizing value and longevity over conspicuous consumption.