In 2020, the perfume and cosmetics category held a 22 percent value share of the personal luxury goods market worldwide.
Luxury Goods
The global personal luxury goods industry has been on an upward climb for many years. Although the technical term 'luxury good' is independent of the goods' quality, they are generally considered to be goods at the highest end of the market in terms of quality and price. Luxury goods manufacturers meet consumer demand by focusing on brand, aesthetics, quality materials, superior craftsmanship and pricing to transform everyday objects into status symbols. The industry rises and falls with the gross domestic product (GDP), seeing demand climb in times of economic stability and plummeting in unfavorable economic climates.
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Kering. (February 17, 2021). Value share of the personal luxury goods market worldwide in 2020, by product category [Graph]. In Statista. Retrieved December 02, 2024, from https://www.statista.com/statistics/245655/total-sales-of-the-luxury-goods-market-worldwide-by-product-category/
Kering. "Value share of the personal luxury goods market worldwide in 2020, by product category." Chart. February 17, 2021. Statista. Accessed December 02, 2024. https://www.statista.com/statistics/245655/total-sales-of-the-luxury-goods-market-worldwide-by-product-category/
Kering. (2021). Value share of the personal luxury goods market worldwide in 2020, by product category. Statista. Statista Inc.. Accessed: December 02, 2024. https://www.statista.com/statistics/245655/total-sales-of-the-luxury-goods-market-worldwide-by-product-category/
Kering. "Value Share of The Personal Luxury Goods Market Worldwide in 2020, by Product Category." Statista, Statista Inc., 17 Feb 2021, https://www.statista.com/statistics/245655/total-sales-of-the-luxury-goods-market-worldwide-by-product-category/
Kering, Value share of the personal luxury goods market worldwide in 2020, by product category Statista, https://www.statista.com/statistics/245655/total-sales-of-the-luxury-goods-market-worldwide-by-product-category/ (last visited December 02, 2024)
Value share of the personal luxury goods market worldwide in 2020, by product category [Graph], Kering, February 17, 2021. [Online]. Available: https://www.statista.com/statistics/245655/total-sales-of-the-luxury-goods-market-worldwide-by-product-category/