Retail value sales of luxury goods in Mexico continue to rise in 2024. The most dynamic category within luxury goods in 2024 is predicted to be super premium beauty and personal care, due to greater interest in purchasing premium products that have gained relevance among consumers post-pandemic.
Luxury brands are well-known by many local consumers and are an aspirational purchase for a large proportion of the population because they represent a certain status and economic level. This is why they tend to have visible features that allow them to be easily identified by others and, therefore, can place consumers within a certain segment that can access exclusive goods and services.
The world's largest luxury group, LVMH Moët Hennessy Louis Vuitton SA, has a strong presence in the Mexican market in all the categories in which it participates: designer apparel and footwear (ready-to-wear), fine wines/champagne and spirits, super premium beauty and personal care, luxury jewellery, luxury leather goods and luxury timepieces, with brands such as Louis Vuitton, Moët & Chandon, Christian Dior, Tiffany & Co, Bvlgari, Fendi and Tag Heuer, among others.
Driven by the surge in new technologies increasingly occupying a more relevant place in everyday life, the growth of e-commerce is also gaining greater relevance in luxury goods, particularly personal luxury. Although the final purchase is not always made through this channel, since many products have a high value and consumers want to see and touch them first, it is fundamental in terms of research and seeing the different products on offer, even if the purchase is later made physically at a store.
Retail sales of luxury goods in Mexico are expected to continue rising over the forecast period, with super premium beauty and personal care predicted to be the most dynamic performer in value growth terms. On the other hand, experiential luxury is likely to remain the leading category due to the high value linked to luxury hotels, and increasingly, luxury foodservice.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Luxury Goods industry in Mexico with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Luxury Goods industry in Mexico, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
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.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!