For the past 13 years, IFOP has been associated with the Grand Prix Stratégies du Luxe (organized by the eponymous media) by producing the “Luxury Trend Report”. This study, based on market figures and the opinions of industry professionals, highlights future trends (all categories included) and the challenges facing luxury brands.
This survey was conducted with 215 luxury industry players. The interviews were conducted between November 15 and 28, 2022.
In an inflationary context, the luxury field continues to do well.
48% of respondents said they were optimistic about the sector’s future performance.
According to them, the resilience of the sector and its ability to maintain itself lies in the financial strength of global luxury groups (48%) and the need to indulge in times of crisis (46%).
We can also mention the appetite of young people for high-end brands (35%).
Growth prospects
Certain regions of the world are more conducive to the growth of prestige brands.
At the top of the list are:
• Middle East (85%)
• North Asia (80%)
• Southeast Asia (74%)
• Latin America (37%)
• Northern and Eastern Europe (35%)
• Africa (28%)
Some segments have more or less significant development prospects. For cosmetics, projections are relatively stable.
The IFOP survey has highlighted certain threats to the sector.
In addition to the loss of momentum in growth territories, the level of prices that are too high could end up hurting the sector. Competition from premium brands is also to be taken into account.
Purchasing behaviors
According …
