Nothing gold can stay. Despite years of strong performance, the market for personal luxury goods is set to slow down this year for the first time since the 2009 Great Recession. Now, 50 million luxury consumers have either ditched buying designer bags, scarves, watches, and more—or have been priced out, Bain & Company’s new annual luxury report warns.
Only a third of luxury brands will end the year with positive growth, Bain posited, down from two-thirds last year.
