US EditionNew study shows global luxury shoppers are spurning high-end brands over steep price hikes
The market lost 50 million customers in 2024 due to price hikes and reduced tourism, with a forecasted 3-5% growth returning in 2026, Bain & Company reports.
- On Thursday, Bain & Company reported the global personal luxury goods market contracted for a second straight year, shrinking 2% to €358 billion and losing 50 million customers.
- Wealthy shoppers pushed back against steep price hikes and a creativity crisis, costing personal luxury brands 60 to 70 million customers over two years, while new acquisition fell 5% in the past year.
- By market, the Middle East and rest‑of‑world category performed best, up between 4% and 6% to €23 billion, while Mainland China and Japan are headed for slowdowns up to 8% to €42 billion and €31 billion respectively, according to Bain & Company and Altagamma.
- In June, Bain & Company expect 2025 spending to be broadly flat at €1,440,000,000,000, prompting brands to decide which customers to serve and realign value strategies.
- Looking ahead, Bain & Company and Altagamma project growth next year of 3%–5% to €365 billion–€375 billion and decade growth of 4%–6% annually.
14 Articles
14 Articles
Luxury’s price spiral comes full circle
The global luxury goods sector, long defined by rising prices, booming demand and an aura of exclusivity, is entering a moment of reckoning as new forecasts suggest a modest revival in 2026 while warning that years of aggressive mark-ups have left buyers feeling alienated and even ‘betrayed’. Bain & Company’s latest study, produced with Italian luxury group Altagamma, says the industry is expected to grow by 3% to 5% next year after stagnating i…
New Study Shows Global Luxury Shoppers Are Spurning High-End Brands Over Steep Price Hikes
MILAN (AP) — Global sales of personal luxury goods are forecast to contract for the second straight year, as well-heeled shoppers rebel against extravagant price hikes on ho-hum offerings and global turmoil shakes confidence, according to a new study by the Bain & Co. consultancy released on Thursday.
New study shows global luxury shoppers are spurning high-end brands over steep price hikes
Global sales of personal luxury goods are forecast to contract for the second straight year, as well-heeled shoppers rebel against extravagant price hikes on ho-hum offerings and global turmoil shakes confidence, according to a new study by the Bain & Co. consultancy released on Thursday.
New study shows global luxury shoppers are spurning high-end brands over steep price hikes
MILAN (AP) — Global sales of personal luxury goods are forecast to contract for the second straight year, as well-heeled shoppers rebel against extravagant price hikes on ho-hum offerings and global turmoil shakes confidence, according to a new study by the Bain & Co. consultancy released on...
New study shows global luxury shoppers are spurning high-end brands over steep price hikes
MILAN (AP) -- Global sales of personal luxury goods are forecast to contract for the second straight year, as well-heeled shoppers rebel against extravagant price hikes on ho-hum offerings and global turmoil shakes confidence, according to a new study by the Bain & Co. consultancy released on Thursday.
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