Retail sales of luxury goods in Brazil increased by 3% in current value terms to reach BRL38.7 billion in 2023.
The wealthiest consumer segments remain the key purchasers and pivotal drivers of growth in demand for luxury goods. Levels of wealth play a key role in defining a consumer’s economic status and serve as an important driver of their shopping habits.
Luxury players remain highly competitive. With people making more mindful consumption choices, luxury players are focusing more on creating innovative products that offer consumers value, ensuring that their products and the services they offer are affordable and competitive.
With consumers not being able to visit physical stores at the height of the COVID-19 pandemic, this led luxury brands to increase their investment in their local e-commerce operations. Luxury activity had tended to be trailing other industries in terms of digitisation, with brands very resistant to it.
The outlook for luxury goods is positive on the whole, with pent-up demand that built up during the pandemic likely to lead to consumers buying more high-end goods during the forecast period. Retail sales of luxury goods in Brazil are expected to increase at a CAGR of 6% in current value terms (3% CAGR at constant 2023 prices) over the forecast period to reach BRL52.
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Understand the latest market trends and future growth opportunities for the Luxury Goods industry in Brazil with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
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Luxury Goods
This is an aggregation of: Personal Luxury, Fine Wines/Champagne and Spirits, Luxury Cars and Experiential Luxury.
See All of Our DefinitionsThis report originates from Passport, our Luxury Goods research and analysis database.
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