PROSPECTS AND OPPORTUNITIES
Steady growth driven by domestic demand, return of tourism, and luxury brand expansion
Personal luxury is expected to experience steady value growth over the forecast period, with a compound annual growth rate (CAGR) in the lower single digits from 2024 to 2029 in constant terms. This growth will largely be propelled by domestic spending from affluent Canadians and the resurgence of international tourism.
Luxury brands expected to respond to consumer focus on sustainability and social issues
Over the forecast period, sustainability and social issues are anticipated to play a central role in shaping luxury brand strategies, as consumers increasingly prioritise environmental and ethical considerations in their purchasing decisions. Growing awareness of climate change and a desire to minimise the environmental impact of materials and manufacturing processes are driving this trend.
Luxury brands expected to continue focus on DTC strategies and omnichannel growth
While significant shifts in the retail landscape are not expected over the forecast period, luxury brands are likely to continue refining their direct-to-consumer strategies, which will boost the growth of the specialist retail channel. Additionally, ongoing investment in omnichannel capabilities will further cement e-commerce as a vital distribution channel for luxury goods.
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Overview:
Understand the latest market trends and future growth opportunities for the Personal Luxury industry in Canada with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Personal Luxury industry in Canada, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Personal Luxury in Canada report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Personal Luxury in Canada?
- Which are the leading brands in Personal Luxury in Canada?
- How are products distributed in Personal Luxury in Canada?
- How important is tourism in evaluating demand for Personal Luxury in Canada?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
- Where is future growth expected to be most dynamic?
Personal Luxury in Canada - Category analysis
KEY DATA FINDINGS
Designer apparel and footwear (ready-to-wear)
Luxury eyewear
Luxury jewellery
Luxury leather goods
Luxury wearables
Luxury timepieces
Luxury writing instruments and stationery
Super premium beauty and personal care
Steady growth driven by domestic demand, return of tourism, and luxury brand expansion
Luxury brands expected to respond to consumer focus on sustainability and social issues
Luxury brands expected to continue focus on DTC strategies and omnichannel growth
Luxury Goods in Canada - Industry Overview
Luxury goods in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
DISCLAIMER
The following categories and subcategories are included:
Personal Luxury
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- Men's Designer Apparel
- Women's Designer Apparel
- Designer Childrenswear
- Designer Clothing Accessories and Hosiery
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- Children's Designer Footwear
- Men's Designer Footwear
- Women's Designer Footwear
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- Luxury Spectacle Frames
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- Men's Luxury Sun Glasses
- Women's Luxury Sun Glasses
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- Luxury Costume Jewellery
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- Men's Luxury Fine Jewellery
- Women's Luxury Fine Jewellery
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- Men's Luxury Bags and Small Leather Goods
- Women's Luxury Bags and Small Leather Goods
- Luxury Travel Goods
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- Luxury Wearables Electronics
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- Men's Luxury Timepieces
- Women's Luxury Timepieces
- Luxury Writing Instruments and Stationery
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- Super Premium Colour Cosmetics
- Super Premium Fragrances
- Super Premium Skin Care
- Other Super Premium Beauty and Personal Care
Personal Luxury
This is an aggregation of Designer Clothing and Footwear (Ready-to-Wear), Luxury Eyewear, Luxury Jewellery, Luxury Timepieces, Luxury Leather Goods, Luxury Writing Instruments and Stationery, Luxury Portable Consumer Electronics and Super Premium Beauty and Personal Care.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Personal Luxury research and analysis database.
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