Luxury Item Sales Growth Slows, Business and Industry Trends Analysis

After falling off dramatically in the recession that began in late 2007, luxury goods sales began to rebound in 2010. Double digit growth was seen from 2010 through 2012. For 2015, Bain & Co. cut its forecast of global luxury spending from a rise of 2% to 4% to just 1%, or $280 billion, from 2014. High-end retailers such as Louis Vuitton and Burberry are facing tougher markets in China due to its slowing economy and the government’s anti-extravagance and anti-corruption initiatives (luxury sales in China in 2015 are expected to fall for the second straight year). In the U.S., luxury good sales are…

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