Most popular luxury brands in Great Britain 2022

The most popular luxury brands among Great Britain adults as of the fourth quarter of 2022 was the German luxury apparel brand Hugo Boss. The brand came in first place receiving 54 percent of positive opinions by respondents. The minimalistic fashion brand Calvin Klein came in second place and received a 53 percent approval rate from respondents.

How is the luxury goods sector shaped in the UK?

UK's luxury goods market had an estimated revenue of 13.73 billion euros in 2022. Luxury fashion makes up the largest revenue, and is projected to grow from 5. 92 billion euros in 2022 to 8.67 billion euros by 2028. That said, the UK is not among the top five countries where the luxury goods revenues are the highest.

Luxury goods purchasing behavior in Europe

Among affluent luxury shoppers across Europe (including the UK, both physical stores of brands and online channels were equally key purchase channels. In a survey conducted in the fourth quarter of 2022, physical stores were still found to be the primary channel for luxury brand and service purchases. Increasingly, for the same consumer, sustainability is becoming a key factor when buying goods and services from luxury companies. Around 70 percent of consumers saw sustainable luxury, or brands adoptiong ESG principles as important.