Luxury spending now driven by experiences and 'inheritourism'

Luxury goods sales are expected to grow 1% to 4% this year, while experiences are projected to grow faster at 3% to 7%. The report suggests a modest shift in consumer spending toward experiences over goods. Overall, the data is constructive but not strong enough to imply a major market move.

Analysis

Luxury goods sales are expected to grow 1% to 4% this year, while experiences are projected to grow faster at 3% to 7%. The report suggests a modest shift in consumer spending toward experiences over goods. Overall, the data is constructive but not strong enough to imply a major market move.