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Experiential Luxury in Australia

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    Report

  • 23 Pages
  • November 2024
  • Region: Australia
  • Euromonitor International
  • ID: 4988855
As wealthier consumers increasingly prioritise the pursuit of richer and more authentic experiences, instead of the acquisition of material objects, experiential luxury in Australia continues to register a robust performance in 2024. In part a response to peak consumption, in part fuelled by the social media allure of “Instagrammable” moments, luxury players are able to leverage premium lifestyle elements to foster an enhanced customer experience and deeper brand engagement on an industry level.

The Experiential Luxury in Australia report offers a comprehensive guide to the size and shape of the Experiential 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 Experiential Luxury retailing along with the development of consumers’ shopping patterns. Forecasts to 2028 illustrate how the market is set to change

Product coverage: Luxury Foodservice, Luxury Hotels.

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

Why buy this report?

  • Get a detailed picture of the Experiential 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
  • Innovation, creativity, authenticity and indulgent novelty ensure dynamism within experiential luxury
  • International players dominate luxury hotels across 5-star stalwarts and unique lifestyle luxe boutique options
  • Potential long-term industry disruptor: AI’s relevance for today’s luxury customer
PROSPECTS AND OPPORTUNITIES
  • Travel recovery and demographic shift towards older, wealthier travellers likely to contribute to dynamic performance of experiential luxury
  • A strong focus on sustainability means luxury hotels will look to differentiate their eco-credentials
  • High occupancy rates anticipated for luxury hotels over the forecast period
CATEGORY DATA
  • Table 1 Sales of Experiential Luxury by Category: Value 2019-2024
  • Table 2 Sales of Experiential Luxury by Category: % Value Growth 2019-2024
  • Table 3 NBO Company Shares of Experiential Luxury: % Value 2019-2023
  • Table 4 LBN Brand Shares of Experiential Luxury: % Value 2020-2023
  • Table 5 Forecast Sales of Experiential Luxury by Category: Value 2024-2029
  • Table 6 Forecast Sales of Experiential 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 7 Sales of Luxury Goods by Category: Value 2019-2024
  • Table 8 Sales of Luxury Goods by Category: % Value Growth 2019-2024
  • Table 9 Inbound Receipts for Luxury Goods by Country of Origin: Value 2019-2024
  • Table 10 NBO Company Shares of Luxury Goods: % Value 2019-2023
  • Table 11 LBN Brand Shares of Luxury Goods: % Value 2020-2023
  • Table 12 Distribution of Luxury Goods by Format and Category: % Value 2024
  • Table 13 Forecast Sales of Luxury Goods by Category: Value 2024-2029
  • Table 14 Forecast Sales of Luxury Goods by Category: % Value Growth 2024-2029
DISCLAIMER
SOURCES
  • Summary 1 Research Sources