The luxury goods market can stand firm, even if a recession were to arrive. Sales will grow by another 60 % in the next eight years, a new report predicts.
Going strong
Even if a recession hits, the luxury market will continue to grow: the sector is significantly stronger today than it was during the 2008-09 financial crisis, as it now has a larger consumer base. Their stronger customer focus and multi-touchpoint ecosystems also give luxury brands resilience today, Bain & Co concludes in its annual study of the (personal) luxury goods market.
