Personal luxury is anticipated to post a 2% value CAGR (at constant 2024 prices) over the forecast period, which will be an improvement on the review period average, which was negatively impacted by the double-digit value decline of 2020 during the lockdowns, and in particular, the disruption to international travel flows. In 2019, for instance, international retail expenditure represented 24% share of the spend on personal luxury in Australia, with domestic spend representing 76%.
Alternative business models, such as resale, renting or peer-to-peer sharing platforms, have rapidly grained ground in Australia, with consumers embracing these options due to sustainability concerns, financial constraints or a more wholistic vintage/heritage connection to designer apparel and footwear.
While alternative business models can still offer a brand-building experience for luxury players, which, despite not benefitting directly from sales, can gain significantly from goodwill, longevity, quality and increased accessibility, there are also other factors emerging that are likely to cause concern to the industry over the forecast period, as the grey market becomes an even bigger business.
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 Personal Luxury industry in Australia 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.
If you're in the Personal Luxury industry in Australia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Personal Luxury
This is an aggregation of Designer Clothing and Footwear (Ready-to-Wear), Luxury Eyewear, Luxury Jewellery, Luxury Timepieces, Luxury Leather Goods, Luxury Writing Instruments and Stationery, Luxury Portable Consumer Electronics and Super Premium Beauty and Personal Care.
See all of our definitionsThis report originates from Passport, our Personal Luxury 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!