RetailX - Global Luxury Sector Report 2023

The RetailX - Global Luxury Sector Report 2023 highlights a shift in the luxury sector due to the impact of the pandemic and increasing economic turbulence. The sector has adapted well to these changes and has come out ahead of its pre-pandemic level. More consumers view luxury items as investments and to help lessen their impact on the environment, leading to a growing number of younger people engaging with luxury brands, particularly in China. This changing demographic is pushing the luxury sector to re-evaluate how it operates, creating a test bed for the wider retail world to follow. The report showcases the luxury sector as a snapshot of a changing world and highlights its role in shaping the future of retail.