RetailX Europe Luxury 2024

July 2024
Sponsored by
Report Summary

Download the European Luxury Report 2024, following on from our Global Luxury Report 2024, this report takes a deeper dive into consumer behaviour and attitudes towards this region. The report examines the growth in European luxury ecommerce that has plateaued, this however isn’t necessarily a sign of the market stalling, but more an indication it is evolving. The report uses the results of our ConsumerX data to analyse attitudes to what, why, where and how Europeans’ buy luxury goods.

Inside the Report

Following steady growth across much of the 2010s, European luxury online sales have flattened out since the pandemic, with the sector recording virtually no growth from its €15.5bn level in 2021. Indeed, 2023 brought a small downturn to €15.4bn, as against €15.52bn in 2022.

But the sector is still buoyant, with more consumers choosing to buy luxury than ever before. For 92% of consumers, it is quality that drives them to buy, far ahead of other factors, including brand reputation (63.2%) and fashionableness (42.3%). Half (50%) of consumers also believe that the enduring value of these items is an important factor. 

European luxury retail sales are dominated by fashion, which generates €5.9bn, more than a third of the sector’s total revenue in 2023. Luxury cosmetics accounted for €4.1bn. This is backed up by RetailX’s ConsumerX consumer data, which shows that luxury fashion and apparel was the segment most likely to generate multiple purchases among 43% of shoppers.

The largest single group buying luxury fashion are GenZ-ers, with 56% in this cohort saying they have made multiple luxury fashion purchases in the past year. A further 25.5% have made one purchase, leaving just 18.5% having not bought a luxury fashion item. 

EU luxury ecommerce is tempered by shoppers being wedded to the theatre and experience of physical retail. On average, 48.4% of European consumers prefer in store, yet these generate 85% of revenues. This is way more than the 30% who shop online. Interestingly, it is the young GenZ shoppers who buck this trend, with 54.1% of them drawn to shop in physical luxury stores – almost 10% higher than all other shoppers. 

Consumer research shows that 79.5% of all European luxury shoppers are interested in buying sustainably. While consumer data shows that 31.5% of European shoppers say that they wouldn’t pay more for sustainable luxury, the remaining 68.5% – more than two thirds – say they would.

The flattening out of European luxury revenues seen in 2023 is set to continue, however. Data shows that 57.3% are expecting to spend the same amount in 2024, while 27.5% will be lowering their luxury spending. 

Key Player Profiles

Our analysis of the European luxury market  is illustrated with company profiles showcasing the nine retailers standing out in the market. Each profile offers company profit and sales figures, share price and web traffic as well as a review of what makes their business exemplary.

  • Coach
  • Farfetch
  • Gucci
  • Guerlain
  • Longines
  • Louis Vuitton
  • Lyst
  • Pandora
  • Ray-Ban
Already registered with us? Log in

Access this report

To read the rest of the RetailX Europe Luxury 2024, please enter your contact details.

Please enter your business email address.

Our content is free to access for retailers and brands and we use your email address to identify you and grant you instant access.

If we do not recognise your email address we will email you to confirm your access to our content. Please check your inbox for an email from

Tick if you would like to register for the InternetRetailing newsletter to receive the latest news, research and event information straight to your inbox? Tick if you would like to register to receive emails from our industry partners? 

Terms & Conditions

Your information will be handled in accordance with the EU General Data Protection Regulation 2016 (GDPR). You can click on the unsubscribe links in our emails at any time to update your preferences and you can read our full Privacy Policy here. When you download this, we may share your data with the sponsors of the report in line with our Privacy Policy, and through carefully-evaluated legitimate interest. If you have any queries please contact our Data Compliance Officer on

Yes, I agree with the privacy policy and terms and conditions. Access Report

Register for Newsletter

Group 4 Copy 3Created with Sketch.

Receive 3 newsletters per week

Group 3Created with Sketch.

Gain access to all Top500 research

Group 4Created with Sketch.

Personalise your experience on

To get full access to your selected reports, please sign in below:

Sign in to your account