Luxury Goods - Mexico

  • Mexico
  • The Luxury Goods market in Mexico is projected to generate a revenue of US$3.13bn in 2024.
  • It is expected to experience an annual growth rate of 1.33% (CAGR 2024-2028).
  • The largest segment within this market is Prestige Cosmetics & Fragrances, which is estimated to have a market volume of US$1.10bn in 2024.
  • In comparison to other countries, in the United States leads in terms of revenue with US$77,280m in 2024.
  • On a per capita basis, each individual in Mexico is expected to generate a revenue of US$24.21 in 2024.
  • Online sales are projected to contribute 8.4% of the total revenue in the Luxury Goods market by 2024.
  • Mexico's growing middle class and affinity for luxury brands have led to a surge in demand for high-end goods.

Key regions: United States, Russia, India, Singapore, United Kingdom

 
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Analyst Opinion

When marketing luxury, exclusivity constitutes the conceptual key element. This exclusivity is maintained mainly by a high price point but also by consciously limiting sales volumes and outlets. 2018 was a good year for luxury goods companies, continuing the rebound of the global luxury goods industry which started in 2017 after two relatively sluggish years. Key trends shaping the industry are a continued emphasis on manufacturer-owned retail, a more pronounced shift of sales from the established core markets in Central & Western Europe, North America, and Japan to Greater China and other emerging markets, as well as the increasing role of a fast-growing eCommerce channel.

Methodology

The Luxury Goods market is built on resources from the Statista platform as well as on in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. We evaluate the status quo of the market, monitor trends, and create an independent forecast regarding market developments of the global Luxury Goods industry.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Sales Channels
  • Global Comparison
  • Methodology
  • Key Market Indicators
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