: Advocacy for luxury brands declined sharply among Gen Z, who increasingly view luxury goods as overpriced and are trading down or seeking better value-for-money alternatives.
Within products, beauty (fragrances) and eyewear remain bright spots as consumers seek "entry-level" luxury or small treats amid economic uncertainty. 4. Regional Performance Highlights bain luxury report 2024 pdf
between 2022 and 2024. This was largely driven by "aspirational" shoppers being priced out or opting for "luxury shame"—discreet, understated items over loud branding. The Gen Z "Cooling" : Advocacy for luxury brands declined sharply among
While the full, detailed analysis is often released in stages throughout the year (Spring and Fall updates), professionals can typically access the report via: Navigate to the "Insights" section. Regional Performance Highlights between 2022 and 2024
As Bain’s partner in this study, Altagamma often hosts the official presentation decks.
: Top-tier "Very Important Clients" now account for 45% of global luxury purchases (up from 35% in 2021), yet many report feeling less "pampered" as brand experiences become more transactional. Performance by Region & Category Regional Winners & Losers :