Luxury Goods - Germany

  • Germany
  • Germany's Luxury Goods market is projected to generate a revenue of US$16.08bn in 2024.
  • This market is anticipated to grow at an annual rate of 3.58% (CAGR 2024-2028).
  • The largest segment in this market is Luxury Fashion, which is expected to have a market volume of US$5.93bn 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, in Germany generates US$193.10 per person in 2024.
  • As for online sales, they are projected to account for 18.9% of the total revenue in the Luxury Goods market by 2024.
  • Germany's affluent consumer base and strong economy continue to drive demand for luxury goods, making it a lucrative market for high-end brands.

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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