Luxury Goods - United Kingdom

  • United Kingdom
  • The United Kingdom's Luxury Goods market is projected to generate a revenue of US$17.20bn in 2024.
  • The market is expected to experience an annual growth rate of 4.05% (CAGR 2024-2028).
  • The largest segment within the Luxury Goods market is Luxury Fashion, with a market volume of US$7.39bn in 2024.
  • When compared globally, in the United States leads in revenue generation with US$77,280m in 2024.
  • In terms of per capita figures, each person in the United Kingdom generates US$253.10 in revenue in 2024.
  • Furthermore, it is anticipated that 20.1% of the total revenue in the Luxury Goods market will be generated through online sales by 2024.
  • The United Kingdom's luxury goods market continues to thrive, driven by a strong demand for high-end fashion and accessories among affluent consumers.

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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