Charting the Rise and Fall of the Global Luxury Goods Market
Global demand for personal luxury goods has been steadily increasing for decades, resulting in an industry worth $308 billion in 2019.
However, the insatiable desire for consumers to own nice things was suddenly interrupted by the coming of COVID-19, and experts are predicting a brutal contraction of up to one-third of the current luxury good market size this year.
Will the industry bounce back? Or will it return as something noticeably different?
First published: May 26 2020 (link)
Source files included: .ai, .eps, .pdf
Data source: Bain & Company, Global Web Index
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