Europe Luxury Sector Report 2023

May 2023
Sponsored by
Report Summary

Unlike with many sectors, the pandemic didn’t boost online sales in the European luxury sector. In fact, it took until 2022 for the sector to claw its way back to revenues close to its 2019 high.

However, as the pandemic has waned and physical travel and retail have become the norm again, Europe’s luxury sector has done sterling work in combining its new-found tech with its traditional retail model. The resulting model has placed the European luxury industry at the forefront of the hybrid, multichannel, omnichannel retail world – driving forwards not only its own business but becoming the outlier for new retail platforms such as the metaverse.

In this extensive report we also explore how consumers are increasingly shopping for everything they want on marketplace sites – from Amazon through to specialised luxury marketplaces such as FarFetch and Secret Sales. This is forcing luxury brands to not only embrace ecommerce, but also to look at how to take the leap into not necessarily owning the customer themselves.

Download the full report for insight into: 

  • Why world-renowned brands dominate the Largest 50
  • Why is the European luxury sector still highly reliant on physical retail?
  • How Inflation is affecting the behaviour of domestic consumers
  • 45.6% of European consumers are already familiar with the metaverse
  • Who then shops in the metaverse?
  • Purchasing second-hand luxury items “pre-loved” is on the increase
  • Brands focussing on apparel and accessories such as Tommy Hilfiger, Louis Vuitton and Ray-Ban are in the top sellers
  • Sustainability is driving the creation of new business models within the industry

Report highlights:

  • 38 pages of market-leading research into the European Luxury Sector
  • Largest 50 sector retailers
  • 39 illustrative RetailX figures, charts and graphs 
  • 9 company profiles including:  Fendi, Louis Vuitton, Ray-Ban, Pandora and Vivienne Westwood

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