Personal Luxury Goods Expected to See 20 to 35% Contraction in 2020 - WWD Bain x Altagamma Luxury Report: Luxury Has Fully Returned Luxury Resale Market Topped $37 Billion in 2021, Set to Grow Further By Bettina Bush Mignanego 10 décembre 2020 +14% luxury growth estimated in 2021 +16% leather goods growth in 2021 +11% watches growth expected in 2021 This increased activity aligns with the expansion in luxury resale. % Luxury Handbag Market 2021 - 31 | Industry Share, Size, Growth Similarly, March 2022 saw a 25.16% year-over-year decrease in luxury attached inventory with a 10.22% increase in new inventory. 3 Bain-Altagamma 2019 . The Collins Word Of The Year, Collins Dictionary, 2021. MILAN, Nov. 11, 2021 /PRNewswire/ -- The personal luxury goods industry has come roaring back, experiencing a V-shaped recovery in 2021. . conditions stabilize. In the first quarter of 2021, revenue from luxury products grew up to 1% compared to the same period in 2019, the US management consultancy group said in its Luxury . 2020 will go down as a year of massive challenges for the whole of the . Urbanization, digitalization, and increase in popularity of online . A few key takeaways: - For Q4, Bain expects the signs of recovery to continue, to a -10% y-o-y drop, worst case -20%, best case -5% - Bain expects a return to 2019 levels not sooner than end 2022, early 2023 with partial recovery in 2021 - Mainland China is the only region to end year positively to €44bn, +45% Guest editorial: Advancing research on global luxury consumption 10% of adults now double vaccinated May More indoor and outdoor gatherings allowed, restaurants re-open, travel "traffic light" system set up Bain & Company estimate that the second-hand luxury market reached €33 billion in 2021, a 65% growth on 2017 levels and exceeding the 12% ? On the e-commerce front, China's annual luxury online penetration increased from about 13% in 2019 to 23% in 2020 (see Figure 8). These prices are often discounted and may be substantially higher than actual transaction prices. Image credit: Louis Vuitton By Sarah Ramirez While the overall luxury market remains below pre-pandemic levels, the personal luxury goods industry is primed to return to a strong growth trajectory after a faster-than-expected recovery in 2021. PDF Q2 2021 An independent report by BVA BDRC, August 2021 With current news updates . 12% 39% Of total luxury market made by the 2 wealthiest clusters (Beyond Money & Top absolute); +6pp vs. 2019 thanks to a 17% growth in size, showing a total resiliency to crisis Of total luxury market made by the 19M True Luxury Consumers (+8pp vs. 19) Other aspirational 393 603 320 318 420635-690 Pop.