Executive Summary The Global Luxury Jewelry Market was valued at USD 46.52 billion in the year 2021. Global Luxury Jewelry Market witnessed healthy growth during the historical period, on account of a significant increase in disposable income of consumers across the globe. Major factors driving sales of Luxury Jewelry products...
Despite ongoing travel restrictions, inflation, and supply chain concerns, the global Luxury Goods industry continues to register a strong recovery of value sales. Now, to meet pent-up demand and maintain competitiveness post-pandemic, iconic brands are increasingly employing digital sales and marketing tools, launching new product collections,...
All the activities related to out-of-home entertainment have been suffering negative impacts since 2020 due to the restrictions imposed by the COVID-19 pandemic. The long period of limited operations caused restaurants, bars, concert halls, museums and hotels to face challenging financial situations with the reduced flow of consumers and the...
The luxury goods market showed signs of recovery in 2021, after being negatively impacted in 2020 by the COVID-19 pandemic. Luxury spending shifted from experiences to experience-based goods. Luxury products were first to recover to their 2019 levels as opposed to luxury experiences, which remained below pre-pandemic levels. E-commerce was...
COVID-19 had a significant negative impact on sales of luxury goods in Switzerland in 2020, seeing a double-digit retail current value decline. Although sales of such products are driven by affluent consumers who are less likely to be impacted by recession, even these consumers delayed purchases until there was greater clarity about the virus...
Luxury goods rebounded strongly in Germany in 2021, seeing double-digit current value growth, following a strong decline in 2020 due to the impact of COVID-19. Despite overall value sales still not returning to the pre-pandemic level, the stronger than initially expected recovery of demand in the industry was promising, as the economy gradually...
Luxury goods in South Africa was significantly impacted by the emergence of the pandemic in 2020 as a result of lockdowns and various restrictions including border closures and the temporary closure of non-essential stores introduced by the government in an attempt to control the spread of the virus. Luxury Goods in South Africa report...
Overall luxury goods experienced a significant contraction in 2020, due to the imposition of a state of emergency in Japan during April and May due to the emergence of COVID-19. During this time, non-essential stores closed or reduced their operating hours. The closure of the country’s borders also led to the complete devastation of inbound...
Although luxury portable consumer electronics witnessed retail volume and current value declines in 2019, these were minor compared with the massive falls in sales experienced in 2020, and the further weak performance recorded by the category in 2021. Pre-pandemic, more than half of sales of luxury portable consumer electronics were attributed...
Luxury leather goods continued to be adversely impacted by the lingering effects of the pandemic in 2021, with the category recording another year of double-digit volume and current value declines, exacerbating an already weak performance from the previous year. Luxury Leather Goods in South Africa report offers a comprehensive guide...