Charting the Rise and Fall of the Global Luxury Goods Market

The lethal combination of reduced foot traffic and decreased consumer spending in the first quarter of 2020 has brought the retail industry to its knees.

In fact, more than 80% of fashion and luxury players will experience financial distress as a result of extended store closures.

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Charting the Rise and Fall of the Global Luxury Goods Market

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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