Sales of luxury goods over 400 billion euros in 2025

Fashion & Luxury isn’t slowing down! Several media sources predict that sales of luxury goods will experience a substantial growth between the second half of 2024 and 2028.

The crucial contribution of international tourism

Worldwide luxury goods sales could exceed 400 billion euros by 2025 and 500 billion euros by 2028, with medium-term growth of 7-8%. A number of press sources explain, for example, that the increase of international tourism will have a major impact on this increase.

Starting from the second half of 2024, this trend is expected to grow more in 2025, reaching even a third of sales. In detail, according to Bloomberg Intelligence, the purchases made by the “tourists of luxury” might reach 122 billion euros, compared to the 112 billion euros reached in 2019.

The recovery of offshore retail trade

The Financial Times also highlights the recovery of offshore retail, with the demand in China currently managed by out-of-region tourism. Not surprisingly, Japan has emerged in the first three months of the year (+32%) thanks to the return of Shopping Tourism, an area where the country is a must destination for Chinese consumers.

American buyers were influential on 2023’s revenues. They increased the expenditure on luxury goods reaching the 28% of a market of over 360 billion euros. After affecting only 10% in 2022, the American tourism should be more influential in 2024, with an estimate of 31%.

Custom: all the solutions to accompany the growth of Retail

In this favorable situation for Retail, and for Fashion & Luxury in particular, Custom has all the software solutions to meet new trends. From omni-channel suites to platforms to improve the store’s performance, from advanced tools to protect profits to mobile solutions that make in-store sales more flexible, our Group has an answer for any specific need.

Learn more about all the Custom Group software and contact us to receive detailed information!