Retail value sales of luxury goods in Italy are set to increase by 10% in 2023 in current terms to stand at EUR31.6 billion.
Sales of luxury goods are on an upward trajectory in 2023 despite price increases, issues with the supply chain, higher living costs and Russia’s war in Ukraine. The pandemic significantly affected the demand for luxury goods, due to lockdowns, a massive decline in spending in physical retail outlets and the curtailment of international travel.
Luxury goods remains highly competitive with large numbers of well-known brands competing for share. With consumers thinking more about what they spend money on and buy, luxury players are putting value creation at the forefront of innovation, ensuring the affordability of their product and service portfolios.
Luxury retail is currently undergoing changes, with digitalisation changing where consumers shop and how they engage with luxury brands and retailers. As a result of this, online shopping is becoming more significant within the luxury sphere, with retailers having to adapt their experiences to attract the attention of consumers.
A rosy future is predicted for luxury goods, with pent-up demand in the post-pandemic period expected to help support growth during the forecast period. Retail sales of luxury goods in Italy are expected to increase at a CAGR of 7% in current value terms (4% constant 2023 value CAGR) over the forecast period to stand at EUR43.
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Understand the latest market trends and future growth opportunities for the Luxury Goods industry in Italy with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Luxury Goods industry in Italy, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
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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