What are the data on the fashion luxury market?
Luxury goods market: the data
In 2019, the luxury goods market generated a total revenue of $313.5 billion worldwide.
The fashion luxury sector represents the largest segment (34%) of the luxury market, with $106.2 billion in revenue in 2019.
The annual growth rate of the luxury goods market is estimated to be 3.6%, reaching $388 billion by 2025.
Fashion luxury market data
Despite the decline in revenues in this market market (whose segment in 2020 was 14.7% smaller than estimated) due to COVID-19, global revenues are expected to be $130.1 billion by 2025.
According to 2019 data, clothing accounts for the largest revenue share of the market (compared to footwear).
It is estimated that this will be reconfirmed in 2025.
Fashion luxury: the data in the world market
In 2019, the continent with the highest revenue share in the market was Europe.
Fashion luxury: mercato italiano
The turnover values of the Italian luxury fashion market, elaborated in the Fashion Economic Trends of Camera Nazionale della Moda Italiana, mark a reversal of the trend compared to the crisis scenario that characterized the entire 2020 due to COVID-19.
For fashion industries as a whole, March 2021 sales are 50% higher than March 2020 with spikes of +70% in clothing and footwear.
The forecast for sales at the end of 2021 is €80 billion (+17% compared to 2020), with exports increasing by 13%.
As in many other sectors, consumers in the luxury goods sector have chosen to focus on online purchases, which are estimated to increase more and more than in previous years.
It is estimated that by 2025, online sales of luxury goods globally will account for 25% of total sales.
his is also evident in luxury fashion. Net revenue on Gucci.com, for example, increased from $130 million in 2014 to $824 million in 2021.
What about you, have you purchased any luxury items this year?