The digital opportunity for luxury retail

13-08-2020

The luxury goods market continues to shine. The overall luxury market grew by 5 percent at constant exchange rates in 2018 to an estimated €1.2 trillion globally, with overall positive performance across all segments. This trend is likely to continue- led by the continued rise of online channels, flourishing luxury demand from Chinese consumers, and increasing influence from younger generations of consumers.

At the same time, varying economic trends, new technology, and evolving consumer preferences are continuously changing the competitive landscape presenting newer opportunities and challenges. The digital revolution continues to disrupt “business as usual” in retail in general and luxury in particular.