For the first time, the luxury customer base has shrunk, losing an estimated 50 million consumers over the last two years. Regional Winners and Losers
Remains the most resilient "hard luxury" category, especially in high-end jewelry segments. bain luxury report 2024 pdf
And that, she realized, was the real lesson of the 2024 Bain Luxury Report. For the first time, the luxury customer base
Using AI to offer bespoke shopping experiences. Using AI to offer bespoke shopping experiences
The most resilient core luxury category, remaining relatively flat or growing slightly (0–2%). Shoes & Watches: Faced the steepest declines, dropping Bain & Company Industry Resources
between 2022 and 2024. This was largely driven by "aspirational" shoppers being priced out or opting for "luxury shame"—discreet, understated items over loud branding. The Gen Z "Cooling"
The global leader in growth for 2024, driven by favorable exchange rates that attracted massive tourist spending.