Personal luxury is expected to experience steady value growth over the forecast period, with a compound annual growth rate (CAGR) in the lower single digits from 2024 to 2029 in constant terms. This growth will largely be propelled by domestic spending from affluent Canadians and the resurgence of international tourism.
Over the forecast period, sustainability and social issues are anticipated to play a central role in shaping luxury brand strategies, as consumers increasingly prioritise environmental and ethical considerations in their purchasing decisions. Growing awareness of climate change and a desire to minimise the environmental impact of materials and manufacturing processes are driving this trend.
While significant shifts in the retail landscape are not expected over the forecast period, luxury brands are likely to continue refining their direct-to-consumer strategies, which will boost the growth of the specialist retail channel. Additionally, ongoing investment in omnichannel capabilities will further cement e-commerce as a vital distribution channel for luxury goods.
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Understand the latest market trends and future growth opportunities for the Personal Luxury industry in Canada 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 Canada, 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.
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