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Personal Luxury in Australia

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    Report

  • 26 Pages
  • November 2024
  • Region: Australia
  • Euromonitor International
  • ID: 4825102
While retail value sales of designer apparel (ready-to-wear) in Australia continue to rise in 2024 (to reach AUD2.7 billion), retail volumes are fairly flat. Men’s designer apparel retail value sales growth (7%) is outpacing that of the women’s segment (3%), albeit from a smaller base. Demand for designer footwear continues to recover, while retail sales value growth (7%) is being supported by a strong performance in both the men’s and women’s segments.

The Personal Luxury in Australia report offers a comprehensive guide to the size and shape of the Personal Luxury market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market and their effects on Personal Luxury retailing along with the development of consumers’ shopping patterns. Forecasts to 2028 illustrate how the market is set to change

Product coverage: Designer Apparel and Footwear (Ready-to-Wear), Luxury Eyewear, Luxury Jewellery, Luxury Leather Goods, Luxury Timepieces, Luxury Wearables Electronics, Luxury Writing Instruments and Stationery, Super Premium Beauty and Personal Care.

Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

  • Get a detailed picture of the Personal Luxury market
  • Pinpoint growth sectors and identify factors driving change
  • Understand the competitive environment, the market’s major players and leading brands
  • Use five-year forecasts to assess how the market is predicted to develop

Table of Contents

KEY DATA FINDINGS
2024 DEVELOPMENTS
  • Designer apparel and footwear (ready-to-wear) focuses on digital transformation to enhance sizing, manufacturing and accessibility
  • No longer just functional and fashionable, luxury eyewear is set to leverage AI innovation
  • Lab-grown diamonds capture inspired storytelling angle to uniquely make their mark on luxury jewellery in Australia
  • Contemporary “quiet luxury” offers understated alternative to rising prices of luxury leather goods from established brands
  • Tech advances within luxury wearables aligned with biohacking and wellness trends
  • Global economic headwinds lead to slowdown in luxury timepieces, with decline in export volumes of Swiss luxury watches
  • Sophisticated gifting remains a key driver of luxury writing instruments
  • Australian luxury shoppers feel under increasing financial pressure in their beauty and personal care purchases
PROSPECTS AND OPPORTUNITIES
  • Post-pandemic performance hampered by global slowdown, but optimism offered by domestic spend and return of international tourists
  • Second-hand market viewed as more sustainable, both for the environment and household budgets
  • The role of e-commerce within personal luxury is constantly evolving
CATEGORY DATA
  • Table 1 Sales of Personal Luxury by Category: Value 2019-2024
  • Table 2 Sales of Personal Luxury by Category: % Value Growth 2019-2024
  • Table 3 NBO Company Shares of Personal Luxury: % Value 2019-2023
  • Table 4 LBN Brand Shares of Personal Luxury: % Value 2020-2023
  • Table 5 Distribution of Personal Luxury by Format: % Value 2019-2024
  • Table 6 Forecast Sales of Personal Luxury by Category: Value 2024-2029
  • Table 7 Forecast Sales of Personal Luxury by Category: % Value Growth 2024-2029
LUXURY GOODS IN AUSTRALIA
EXECUTIVE SUMMARY
  • Luxury shoppers become increasingly discerning as economic pressures impact demand
  • Surging inflation, high interest rates and increased living expenses are among the economic headwinds impacting luxury goods
  • Multinational automotive groups and French luxury conglomerates dominate competitive landscape of luxury goods in Australia
  • Successful omnichannel approach to luxury facilitates consumer dialogue in the digital realm, while simultaneously rejuvenating city streets and retail precincts
  • Improved outlook for premium and luxury cars, experiential luxury and fine wines/champagne and spirits
MARKET DATA
  • Table 8 Sales of Luxury Goods by Category: Value 2019-2024
  • Table 9 Sales of Luxury Goods by Category: % Value Growth 2019-2024
  • Table 10 Inbound Receipts for Luxury Goods by Country of Origin: Value 2019-2024
  • Table 11 NBO Company Shares of Luxury Goods: % Value 2019-2023
  • Table 12 LBN Brand Shares of Luxury Goods: % Value 2020-2023
  • Table 13 Distribution of Luxury Goods by Format and Category: % Value 2024
  • Table 14 Forecast Sales of Luxury Goods by Category: Value 2024-2029
  • Table 15 Forecast Sales of Luxury Goods by Category: % Value Growth 2024-2029
DISCLAIMER
SOURCES
  • Summary 1 Research Sources