Luxury Goods Industry Overview
This infographic highlights recent Luxury Goods trends and Euromonitor's projections for the industry.
Luxury and Fashion
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Count on our luxury and fashion industry research when planning long-term growth, product category expansion, geographic targeting and retail strategy development.
Our insights emphasise the importance of personalisation, experiences and hyper-localised retail strategies to build emotional connections with consumers. We also explore how sustainability is becoming increasingly relevant for apparel and footwear, luxury goods and personal accessories players in demonstrating their value. Learn how to navigate these market trends with our trusted and objective view of their growth potential.
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What are trending topics? Read about the five you should prioritise to remain competitive in this report.
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Where is US Apparel and Footwear Headed Amid Relentless Change?
The US economy has endured years of rising costs, and 2025 brought renewed uncertainty as geopolitical risks and market volatility disrupted recovery. Trade agreements and tariff adjustments with partners like China have offered some relief, but instability has eroded business confidence and weakened consumer sentiment – especially in discretionary categories such as apparel and footwear.
Market Volatility: Challenges and Opportunities for the Fashion Industry
Global apparel and footwear continues to face an environment shaped by ongoing geopolitical tensions, economic instability, climate change, and rapid technological disruption. As the market becomes increasingly volatile, success hinges on agility and industry players are evolving their strategies to remain relevant.
US tariffs to disrupt food, apparel and automotive sectors
The US tariffs on imports is placing pressure on sectors with high import dependency—including food, apparel and automotive.
Introducing Euromonitor's Trending Topics
Euromonitor presents five crucial trending topics across industries that businesses must understand to thrive in today's volatile environment. These topics include Market volatility, Beyond affordability, Healthy longevity, Intentional consumption, and Next-gen online storefront. By analysing these trends, companies can identify opportunities for growth and adapt their strategies accordingly. The insights provided aim to help businesses stay relevant and profitable in a rapidly changing landscape.
What do Fashion and Luxury Brands Need to Know About Gen Z?
By 2030, Generation Z and Alpha will comprise 45% of the global population, significantly shaping consumer trends. This video highlights Gen Z's tech-savvy nature, preference for personalised, digital experiences, and demand for seamless omnichannel shopping. Social consciousness and sustainability also resonate with this generation.
The Business of Uncertainty: Impact of Trump Policies Across Industries
What’s the potential impact of Trump’s policies across industries and economies? Stream this webinar to examine four major concerns right now: tariffs, migration, deregulation and consumer demand.
K-wave in Southeast Asia webinar
This webinar will explore how Korean companies and brands are aligning their business strategies to meet the rising expectations of Southeast Asian consumers, and how local companies are leveraging the K-Wave to connect with their markets.
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We research three distinct categories, with detailed sub-category breakdowns: apparel, footwear and sportswear. We research 46 countries and produce modelled data where we don’t have local in-country analysts.
- Value sales at retail and manufacturer selling prices
- Sale by retail channel
- Sales by value segnment - mass, mid and high
Use our thought-provoking insights to understand the key drivers influencing industry growth.
- Industry analysis and opinions
- Megatrends and hot topics
Our data analytics and insights support a wide range of functions across your organisation. You have a single source of truth when making your strategic decisions.
- Strategy: Strategy planning; Consumer insights; M&A
- Marketing: Category teams; Brand teams; Channel development
- Commercial: Country managers; Business development; Sales teams; Revenue management
- Research and development: Product development; Innovation
- Corporate: Investor relations; Annual reports; IPOs
We research three distinct categories, with detailed sub-category breakdowns: experiential luxury, fine wines/champagne & spirits and personal luxury. We research 32 countries and produce modelled data where we don’t have local in-country analysts.
- Core vs entry level luxury
- Domestic vs international expenditure
- Retail volume and value sales
Use our thought-provoking insights to understand the key drivers influencing industry growth.
- Industry analysis and opinions
- Megatrends and hot topics
Our data analytics and insights support a wide range of functions across your organisation. You have a single source of truth when making your strategic decisions.
- Strategy: Strategy planning; Consumer insights; M&A
- Marketing: Category teams; Brand teams; Channel development
- Commercial: Country managers; Business development; Sales teams; Revenue management
- Research and development: Product development; Innovation
- Corporate: Investor relations; Annual reports; IPOs
We research four distinct categories, with detailed sub-category breakdowns: bags & luggage, jewellery, traditional & connected watches and writing instruments. We research 32 countries and produce modelled data where we don’t have local in-country analysts.
- Company and brand data
- Historic data and forecasts
- Annual and quarterly updates
- Up to 20 years of comparable data
- Retail volume and value sales
Use our thought-provoking insights to understand the key drivers influencing industry growth.
- Industry analysis and opinions
- Megatrends and hot topics
Our data analytics and insights support a wide range of functions across your organisation. You have a single source of truth when making your strategic decisions.
- Strategy: Strategy planning; Consumer insights; M&A
- Marketing: Category teams; Brand teams; Channel development
- Commercial: Country managers; Business development; Sales teams; Revenue management
- Research and development: Product development; Innovation
- Corporate: Investor relations; Annual reports; IPOs
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We help answer your biggest commercial questions. Use our independent and unbiased research to test your instincts and find evidence to support your ideas.
Euromonitor’s market research reports are an excellent starting point for understanding a category or market quickly. For more detailed data analytics and insights, Passport is the resource you need. It offers strategic industry knowledge, tactical data and actionable insights all in one place. Alternatively, if you require custom research our consulting team is ready to help you.
Euromonitor’s market research reports are an excellent starting point for understanding the leading companies and brands in a category and market. For more detailed data analytics and insights, Passport is the resource you need. Alternatively, if you require custom research our consulting team is ready to help you.
Euromonitor’s market research reports are an excellent starting point for understanding a category or market and the leading companies quickly. For more detailed data analytics and insights, Passport is the resource you need. You can discover new product launches faster than ever before and track their expansion and withdrawal. Alternatively, if you require custom research our consulting team is ready to help you.
Latest reports from industry experts
World Market for Apparel and Footwear
Apparel and footwear was among the industries worst hit by the COVID-19 pandemic, and as the ongoing conflict in Ukraine further disrupts the world’s economy, fashion players are now in a race to adapt to an increasingly uncertain environment. Those investing in their digital transformation to offer new products, experiences and to rethink their supply chains will be best positioned to win, while upping one’s game on diversity and sustainability is also becoming imperative.
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World Market for Luxury Goods
The global luxury goods industry continues to recover; however, luxury brands are beginning to feel the strain of sluggish global growth. Caution and uncertainty reign across the landscape amid these volatile conditions, and the industry will continue to be shaped by a complex interplay of converging factors, including rising demand from emerging markets, new technology, weak economic growth, geopolitical instability, climate change, a reset of globalisation and changing consumer preferences.
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Where Consumers Shop for Personal Accessories
In 2024, offline retail led with 81.2% of global sales, showing the continued value of in-person shopping for tactile engagement, instant gratification, and trust which remains integral to the path to purchase in personal accessories. Yet, with e-commerce rising to 18.8%, digital adaptability is vital. Consumers expect seamless, tech-enhanced experiences. Retailers must innovate in-store while integrating digital tools and omnichannel services to stay competitive in a blended retail future.
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Sportswear in Turkey
Sports footwear is in high demand for its performance and comfort and is experiencing a notable surge as more individuals opt for comfort-driven choices over formal products in their everyday use. Turkish consumers increasingly demand technology that adds value, and manufacturers will increasingly be expected to develop and introduce more technologically advanced products. The rising interest in running is driving demand for performance-oriented sportswear tailored for comfort and catering to di
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Apparel and Footwear in the US
Following a peak in year-on-year growth for apparel and footwear in the US in 2021 as sales rebounded from the pandemic decline, the industry experienced two consecutive years of falling sales in retail volume terms, with low growth in retail current value terms, driven by rising unit prices. The volume struggle can be attributed to persistent inflation and economic uncertainties from 2022. On a positive note, the US apparel and footwear industry showed notable resilience during this period comp
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Jeans in Mexico
Significant retail current value growth was seen for jeans in 2021 and 2022, when sales rebounded after the 2020 decline, and post-pandemic fashion favoured more casual styles, particularly in workplace settings. As consumers in Mexico anticipated a return to normalcy, many updated their wardrobe with new jeans, resulting in a sales surge. However, growth appears to have passed its peak, and jeans saw a significant slowdown in current value growth in Mexico in 2023, and this trend is expected to
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Fine Wines/Champagne and Spirits in Mexico
In 2025, fine wines/champagne and spirits in Mexico achieved moderate growth of 4% in value sales, reaching MXN10.0 billion. This rise reflects the ongoing premiumisation trend and increased emphasis on artisanal craftsmanship. Despite persistent inflation, consumers continued to invest in high-quality, exclusive beverages, particularly tequila, which strongly embodies Mexican cultural identity, and appealed to both local and international markets, driving notable growth. The premiumisation tren
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Luxury Goods in China
In 2025, retail value sales of luxury goods in China saw a solid increase in current value terms, despite consumer sentiment being cautious owing to ongoing macroeconomic uncertainties, including slower GDP growth and sustained pressure on household incomes. Demand for luxury goods remained robust, driven by consumers' continued interest in meaningful experiences and their increasing perception of luxury goods as an investment. However, this was partially offset by some consumers reducing their
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Personal Luxury in Taiwan
In 2025, designer apparel and footwear in Taiwan continued its steady growth trajectory, with retail value sales increasing by 1% compared to the previous year, to reach TWD67.5 billion. This growth underscores the sustained consumer preference for quality over quantity, as Taiwanese consumers increasingly prioritise premium, eco-conscious products. Notably, the expansion was particularly pronounced in men's designer apparel and footwear, which outpaced the women's segments in terms of value gro
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