Retail sales of luxury goods in Brazil are increasing by 6% in current value terms to reach BRL45.7 billion in 2024.
The wealthiest consumer segments remain the key purchasers and pivotal drivers of growth in demand for luxury goods. Levels of wealth play a key role in defining a consumer’s economic status and serve as an important driver of their shopping habits.
Luxury players remain highly competitive, and competition is intensifying with rising consumer awareness, leading companies and brands to invest more on innovation the encompasses value as well as relative affordability. Consumer habits have been shifting fast, not only in terms of demand but also in terms of daily patterns – such as the rising prevalence of remote working, for example, as well as a growing interest in online shopping and substantially increased concern with social and environmental responsibility.
Digitalisation continues, having been spurred on by store closures during the pandemic and forcing players to invest in e-commerce operations. Luxury activity had tended to be trailing other industries in terms of digitisation, with brands very resistant to it.
Luxury goods in Brazil faces an overall positive outlook for the forecast period, with retail sales set to rise at a CAGR of 7% in current value terms (3% CAGR at constant 2024 prices) to reach BRL63.5 billion in 2029.
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Understand the latest market trends and future growth opportunities for the Luxury Goods industry in Brazil with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Luxury Goods
This is an aggregation of: Personal Luxury, Fine Wines/Champagne and Spirits, Luxury Cars and Experiential Luxury.
See All of Our DefinitionsThis report originates from Passport, our Luxury Goods research and analysis database.
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