Bain Luxury Report 2024 Pdf Page
The raw data tables within the Bain Luxury Report 2024 PDF tell a story of shifting preferences:
| Category | 2024 Performance | Bain Commentary | | :--- | :--- | :--- | | Leather Goods | Flat (0% to +2%) | Saturation. The "It Bag" cycle is broken. Functionality triumphs over hype. | | Footwear | -2% to 0% | Sneaker fatigue. A return to dress shoes (loafers, oxfords) among Gen Z. | | Jewellery | +6% to +8% | The strongest category. Gold prices rising drive investment buying. | | Watches | -3% to -1% | Correction after the 2022 crypto bubble. Steel sports watches are softening; precious metal is holding. | | Beauty | +7% to +9% | The silent hero. Fragrance and make-up are the new "affordable entry point" to luxury. | | Hospitality | +12% | Luxury hotels and private club memberships are the fastest growing "brand extension." | bain luxury report 2024 pdf
The “Aspirational Shopper” Crisis
The standout insight: the aspirational middle-class consumer has pulled back significantly, while top-tier VIC (Very Important Client) spending remains robust. This explains why ultra-high-end brands (Hermès, Brunello Cucinelli) are fine, while accessible luxury (some entry-level bags, watches) is hurting. The raw data tables within the Bain Luxury
2025-2030 Outlook
Bain projects a return to 5-7% annual growth through 2030, reaching €540-580B for personal luxury. Key drivers: Gen Z/Alphas, India/SE Asia, and digital innovation. 2025-2030 Outlook Bain projects a return to 5-7%
The report outlines a strategic playbook for brands navigating this cooling period. The "growth at all costs" model is being replaced by a focus on profitability and brand equity.
Contrary to doomsday predictions, the US market stabilized.
If you have downloaded the PDF, you have data. Here is how to apply Bain’s insights to your business (whether you are a brand, retailer, or investor):