Bain Luxury Report 2024 Pdf Link Jun 2026

The 23rd edition of the Bain-Altagamma Luxury Study found that overall luxury spending across all segments—including luxury cars, hospitality, and personal goods—totaled €1.48 trillion globally in 2024. This represents a slight decrease of 1% to 3% at current exchange rates. At constant exchange rates, the market effectively stagnated, landing between a 1% decline and a 1% increase. This flat performance is a significant shift after the post-pandemic boom, but it's worth noting that the 2024 level still exceeds pre-pandemic (2019) figures.

A dominant theme throughout the report is the powerful consumer shift from owning goods to having experiences. As the report details, "luxury experiences maintained faster-than-average growth as consumers continued to move their spending to travel and social events". This includes luxury hospitality, cruises, and fine dining, driven by a post-pandemic desire for social connection and personal wellness.

The (published in collaboration with Altagamma) describes a year of significant transition for the global luxury market. After years of record-breaking growth, the industry is facing its first real-term slowdown since the 2008 financial crisis, excluding the pandemic period. Market Performance and Key Figures bain luxury report 2024 pdf

For those sectors, refer to or reports from McKinsey , Deloitte , or KPMG .

Luxury in Transition: Securing Future Growth - Bain & Company The 23rd edition of the Bain-Altagamma Luxury Study

Brands face a clear dilemma: cater exclusively to top clientele or reach new audiences. The report suggests a dual strategy is necessary. Top customers need to be "surprised and delighted" with exceptional, personalized one-to-one interactions to retain their loyalty. Simultaneously, brands cannot abandon the aspirational customer entirely. The renewed vitality of accessible luxury in 2025 shows there is a path to re-engaging this segment with compelling entry-point products and values.

Personal goods have suffered under intense inflationary pressures, macroeconomic uncertainty, and aggressive, multi-year price hikes by top-tier fashion houses. This flat performance is a significant shift after

While China stumbled in 2024, Japan became the star performer.

The Bain report emphasizes that customers are looking for . They want:

As we look ahead to 2024 and beyond, the luxury goods market is poised for significant growth and transformation. The Bain Luxury Report 2024 PDF provides a roadmap for luxury brands to navigate these changes and thrive in a rapidly evolving market. By prioritizing sustainability, digitalization, personalization, and experiential luxury, luxury brands can meet the demands of the new luxury consumer and drive growth in the years to come.

For industry professionals, investors, and enthusiasts, the (23rd edition, published in Nov 2024) is an essential read for understanding how to navigate this turbulent landscape. Executive Summary: Luxury Stumbles in 2024