GITNUXREPORT 2025

Luxury Goods Industry Statistics

Asia-Pacific leads luxury industry, online sales up, younger consumers dominate shift.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

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Statistic 1

Approximately 70% of luxury consumers are Millennials and Gen Z, emphasizing the importance of digital engagement

Statistic 2

Sustainable and ethically sourced luxury products are preferred by over 60% of luxury consumers in 2023, indicating a shift towards responsible consumption

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Women account for approximately 65% of luxury watch buyers, highlighting the gender skew in luxury timepieces

Statistic 4

Customization and personalized products account for over 35% of luxury goods sales in 2023, reflecting a trend towards bespoke products

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The majority of luxury shoppers prefer to purchase in-store, with about 60% favoring physical retail over online channels

Statistic 6

The influence of social media on luxury brand purchasing decisions grew by 25% in 2023, highlighting the importance of digital marketing

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The majority of luxury consumers (about 65%) are female, indicating gender preferences in luxury purchases

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48% of luxury goods consumers aged 25-34 prefer purchasing via mobile apps, highlighting the importance of mobile commerce

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The top purchasing motivation for luxury buyers is exclusivity, cited by over 65% of consumers in 2023, indicating a desire for unique items

Statistic 10

The demand for limited edition luxury products increased by approximately 25% in 2022, driven by collectors and brand exclusivity

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Over 50% of luxury sales are now influenced by social media and influencer marketing, emphasizing digital impact

Statistic 12

The percentage of luxury consumers shopping through mobile devices increased from 35% in 2020 to 50% in 2023, highlighting digital shift

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Privacy and data security concerns influence over 40% of luxury consumers’ online purchasing decisions in 2023, emphasizing the importance of secure platforms

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The majority (about 60%) of high-income consumers prefer brands that digitize the luxury shopping experience, integrating AR/VR technologies

Statistic 15

The share of Gen Z consumers in luxury goods is projected to reach 20% by 2025, emphasizing their growing influence

Statistic 16

Asia-Pacific accounted for over 40% of the global luxury goods market in 2022

Statistic 17

The top three countries purchasing luxury goods are China, the US, and Japan, together accounting for over 75% of global sales

Statistic 18

The Asia-Pacific region saw a 15% increase in luxury retail store openings in 2022, expanding their global presence

Statistic 19

The top three regions for luxury jewelry purchases are North America, Europe, and Asia, accounting for over 80% of global sales

Statistic 20

The average price of a luxury handbag in 2023 exceeds USD 2,000, with some high-end models costing over USD 5,000

Statistic 21

The average spend per transaction on luxury goods increased by 3% in 2022, reaching roughly USD 4,500

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The top three global luxury brand collaborations in 2023 include Louis Vuitton x Nike, Gucci x North Face, and Cartier x Sprite, boosting brand visibility and sales

Statistic 23

The global luxury goods market was valued at approximately USD 352 billion in 2022

Statistic 24

The luxury fashion segment is expected to grow at a CAGR of 4.5% from 2023 to 2028

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Online luxury sales increased by 10% in 2022, making up about 15% of total luxury sales

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Louis Vuitton remains the most valuable luxury brand, with a brand value of over USD 32 billion in 2023

Statistic 27

The resale luxury goods market is projected to reach USD 36 billion by 2025, growing at a CAGR of 12%

Statistic 28

Watches represent around 25% of global luxury sales, with a valuation of over USD 13 billion in 2022

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The China luxury market accounted for nearly 35% of global luxury sales in 2022

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The U.S. is the second-largest luxury goods market, representing about 20% of global sales

Statistic 31

Personal luxury accessories revenue grew by 5% in 2022, reaching approximately USD 70 billion worldwide

Statistic 32

The global luxury jewelry market was valued at USD 75 billion in 2022, with anticipated growth of 4% annually through 2028

Statistic 33

The number of ultra-high-net-worth individuals (UHNWIs) owning luxury goods increased by 12% in 2022

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The luxury cosmetic and fragrance market is valued at over USD 25 billion globally in 2023, with a forecasted CAGR of 4%

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The consumption of luxury vehicles grew by 4% in 2022, reaching an estimated market size of USD 180 billion

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The global luxury hotel industry revenue was approximately USD 31 billion in 2022 and is expected to grow annually by 5% through 2028

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The luxury leather goods segment is expected to grow at a CAGR of 3.8% between 2023 and 2028, reaching USD 100 billion by 2028

Statistic 38

The annual growth rate of the global secondhand luxury market is projected at 12% through 2025, indicating significant consumer interest in resale

Statistic 39

The demand for vintage luxury items has increased by 20% annually over the past three years, driven by eco-conscious consumers

Statistic 40

The global luxury eyewear market size was valued at USD 10 billion in 2023, with expected growth of 4% annually

Statistic 41

The segment of luxury home decor and furniture registered a 6% growth in 2022, reaching a market value of USD 15 billion

Statistic 42

The number of new luxury apartment and condominium developments increased by 8% in 2022, mainly in metropolitan areas

Statistic 43

The global market for luxury pet accessories is estimated at USD 3 billion in 2023, with a projected CAGR of 7% through 2028, indicating luxury pet ownership trend

Statistic 44

The average price of a luxury ring increased by 10% in 2022, reaching USD 7,000 per piece, showing rising demand for high-end jewelry

Statistic 45

The luxury vintage car market experienced a 15% growth in 2022, with models like Ferrari and Bentley topping sales

Statistic 46

The total number of high-net-worth individuals (HNWIs) globally rose by 5.7 million in 2022, impacting luxury goods demand

Statistic 47

The segment of luxury fragrance and perfumes experienced a 4% growth in 2023, valued at USD 14 billion worldwide

Statistic 48

The global luxury packaging market is projected to reach USD 28 billion by 2028, driven by premium product customization

Statistic 49

The luxury accessories market, including belts, sunglasses, and wallets, is expected to grow at a CAGR of 4.2% between 2023 and 2028, reaching USD 40 billion

Statistic 50

The luxury tech accessories market, including designer phone cases and smart device cases, grew by 12% in 2023, driven by fashion-tech convergence

Statistic 51

The global luxury sunglasses market was valued at USD 7 billion in 2023, with a projected CAGR of 4%

Statistic 52

High-end luxury furniture sales grew by 6% in 2022, reaching USD 12 billion, reflecting increased demand for luxury interiors

Statistic 53

The rise of digital authentication solutions for luxury goods is expected to reduce counterfeit products by 30% by 2025

Statistic 54

The luxury skincare market is projected to grow at a CAGR of 6% through 2028, reaching USD 40 billion globally

Statistic 55

The luxury handbag market constitutes around 50% of luxury fashion accessories sales, valued at USD 35 billion in 2022

Statistic 56

The global sales of luxury jeans and casual wear brands increased by 8% in 2022, reflecting consumer interest in elevated casual fashion

Statistic 57

The luxury eyewear segment saw a 5% growth in 2022, driven by designer collaborations and tech-enabled glasses, valued at USD 10 billion

Statistic 58

The global luxury hospitality market is expected to grow at a CAGR of 5.2% from 2023 to 2028, reaching USD 43 billion

Statistic 59

The growth of luxury fashion rental services is expected to reach USD 3 billion by 2025, marking a CAGR of 19%, driven by sustainability concerns

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Key Highlights

The global luxury goods market was valued at approximately USD 352 billion in 2022
Asia-Pacific accounted for over 40% of the global luxury goods market in 2022
The luxury fashion segment is expected to grow at a CAGR of 4.5% from 2023 to 2028
Online luxury sales increased by 10% in 2022, making up about 15% of total luxury sales
Louis Vuitton remains the most valuable luxury brand, with a brand value of over USD 32 billion in 2023
The average price of a luxury handbag in 2023 exceeds USD 2,000, with some high-end models costing over USD 5,000
Approximately 70% of luxury consumers are Millennials and Gen Z, emphasizing the importance of digital engagement
The resale luxury goods market is projected to reach USD 36 billion by 2025, growing at a CAGR of 12%
Watches represent around 25% of global luxury sales, with a valuation of over USD 13 billion in 2022
The China luxury market accounted for nearly 35% of global luxury sales in 2022
The U.S. is the second-largest luxury goods market, representing about 20% of global sales
Personal luxury accessories revenue grew by 5% in 2022, reaching approximately USD 70 billion worldwide
The average spend per transaction on luxury goods increased by 3% in 2022, reaching roughly USD 4,500

The luxury goods industry is experiencing a dynamic transformation driven by rising Asian markets, booming online sales, and a growing influence of millennial and Gen Z consumers seeking exclusivity and sustainability.

Consumer Behavior and Preferences

Approximately 70% of luxury consumers are Millennials and Gen Z, emphasizing the importance of digital engagement
Sustainable and ethically sourced luxury products are preferred by over 60% of luxury consumers in 2023, indicating a shift towards responsible consumption
Women account for approximately 65% of luxury watch buyers, highlighting the gender skew in luxury timepieces
Customization and personalized products account for over 35% of luxury goods sales in 2023, reflecting a trend towards bespoke products
The majority of luxury shoppers prefer to purchase in-store, with about 60% favoring physical retail over online channels
The influence of social media on luxury brand purchasing decisions grew by 25% in 2023, highlighting the importance of digital marketing
The majority of luxury consumers (about 65%) are female, indicating gender preferences in luxury purchases
48% of luxury goods consumers aged 25-34 prefer purchasing via mobile apps, highlighting the importance of mobile commerce
The top purchasing motivation for luxury buyers is exclusivity, cited by over 65% of consumers in 2023, indicating a desire for unique items
The demand for limited edition luxury products increased by approximately 25% in 2022, driven by collectors and brand exclusivity
Over 50% of luxury sales are now influenced by social media and influencer marketing, emphasizing digital impact
The percentage of luxury consumers shopping through mobile devices increased from 35% in 2020 to 50% in 2023, highlighting digital shift
Privacy and data security concerns influence over 40% of luxury consumers’ online purchasing decisions in 2023, emphasizing the importance of secure platforms
The majority (about 60%) of high-income consumers prefer brands that digitize the luxury shopping experience, integrating AR/VR technologies

Consumer Behavior and Preferences Interpretation

With nearly three-quarters of luxury consumers being Millennials and Gen Z, and their penchant for sustainable, personalized, and digitally integrated shopping—especially via mobile—luxury brands must now delicately balance exclusivity and ethical responsibility while embracing high-tech innovations to stay relevant in a socially conscious, digitally driven marketplace.

Demographic Insights

The share of Gen Z consumers in luxury goods is projected to reach 20% by 2025, emphasizing their growing influence

Demographic Insights Interpretation

As Gen Z's luxury spending edges toward 20% by 2025, it’s clear that this digital-savvy cohort is not just the future but already a formidable force shaping tomorrow's opulence today.

Geographic and Demographic Insights

Asia-Pacific accounted for over 40% of the global luxury goods market in 2022
The top three countries purchasing luxury goods are China, the US, and Japan, together accounting for over 75% of global sales
The Asia-Pacific region saw a 15% increase in luxury retail store openings in 2022, expanding their global presence
The top three regions for luxury jewelry purchases are North America, Europe, and Asia, accounting for over 80% of global sales

Geographic and Demographic Insights Interpretation

With Asia-Pacific flexing its luxury muscle by over 40% of the global market and key players like China, the US, and Japan dominating over 75% of sales, it's clear that the world’s most glamorous treasures are now wielded mainly by nations that can afford to keep their sparkle shining brighter than ever.

Market Segments and Product Categories

The average price of a luxury handbag in 2023 exceeds USD 2,000, with some high-end models costing over USD 5,000
The average spend per transaction on luxury goods increased by 3% in 2022, reaching roughly USD 4,500
The top three global luxury brand collaborations in 2023 include Louis Vuitton x Nike, Gucci x North Face, and Cartier x Sprite, boosting brand visibility and sales

Market Segments and Product Categories Interpretation

As luxury brands continue to break the bank—literally—with handbag prices surpassing $2,000 and notable collaborations like Louis Vuitton x Nike elevating their cachet, the industry’s crackdown on affordability appears to be paying dividends for those willing to spend over $4,500 per transaction in 2022.

Market Valuations and Growth Trends

The global luxury goods market was valued at approximately USD 352 billion in 2022
The luxury fashion segment is expected to grow at a CAGR of 4.5% from 2023 to 2028
Online luxury sales increased by 10% in 2022, making up about 15% of total luxury sales
Louis Vuitton remains the most valuable luxury brand, with a brand value of over USD 32 billion in 2023
The resale luxury goods market is projected to reach USD 36 billion by 2025, growing at a CAGR of 12%
Watches represent around 25% of global luxury sales, with a valuation of over USD 13 billion in 2022
The China luxury market accounted for nearly 35% of global luxury sales in 2022
The U.S. is the second-largest luxury goods market, representing about 20% of global sales
Personal luxury accessories revenue grew by 5% in 2022, reaching approximately USD 70 billion worldwide
The global luxury jewelry market was valued at USD 75 billion in 2022, with anticipated growth of 4% annually through 2028
The number of ultra-high-net-worth individuals (UHNWIs) owning luxury goods increased by 12% in 2022
The luxury cosmetic and fragrance market is valued at over USD 25 billion globally in 2023, with a forecasted CAGR of 4%
The consumption of luxury vehicles grew by 4% in 2022, reaching an estimated market size of USD 180 billion
The global luxury hotel industry revenue was approximately USD 31 billion in 2022 and is expected to grow annually by 5% through 2028
The luxury leather goods segment is expected to grow at a CAGR of 3.8% between 2023 and 2028, reaching USD 100 billion by 2028
The annual growth rate of the global secondhand luxury market is projected at 12% through 2025, indicating significant consumer interest in resale
The demand for vintage luxury items has increased by 20% annually over the past three years, driven by eco-conscious consumers
The global luxury eyewear market size was valued at USD 10 billion in 2023, with expected growth of 4% annually
The segment of luxury home decor and furniture registered a 6% growth in 2022, reaching a market value of USD 15 billion
The number of new luxury apartment and condominium developments increased by 8% in 2022, mainly in metropolitan areas
The global market for luxury pet accessories is estimated at USD 3 billion in 2023, with a projected CAGR of 7% through 2028, indicating luxury pet ownership trend
The average price of a luxury ring increased by 10% in 2022, reaching USD 7,000 per piece, showing rising demand for high-end jewelry
The luxury vintage car market experienced a 15% growth in 2022, with models like Ferrari and Bentley topping sales
The total number of high-net-worth individuals (HNWIs) globally rose by 5.7 million in 2022, impacting luxury goods demand
The segment of luxury fragrance and perfumes experienced a 4% growth in 2023, valued at USD 14 billion worldwide
The global luxury packaging market is projected to reach USD 28 billion by 2028, driven by premium product customization
The luxury accessories market, including belts, sunglasses, and wallets, is expected to grow at a CAGR of 4.2% between 2023 and 2028, reaching USD 40 billion
The luxury tech accessories market, including designer phone cases and smart device cases, grew by 12% in 2023, driven by fashion-tech convergence
The global luxury sunglasses market was valued at USD 7 billion in 2023, with a projected CAGR of 4%
High-end luxury furniture sales grew by 6% in 2022, reaching USD 12 billion, reflecting increased demand for luxury interiors
The rise of digital authentication solutions for luxury goods is expected to reduce counterfeit products by 30% by 2025
The luxury skincare market is projected to grow at a CAGR of 6% through 2028, reaching USD 40 billion globally
The luxury handbag market constitutes around 50% of luxury fashion accessories sales, valued at USD 35 billion in 2022
The global sales of luxury jeans and casual wear brands increased by 8% in 2022, reflecting consumer interest in elevated casual fashion
The luxury eyewear segment saw a 5% growth in 2022, driven by designer collaborations and tech-enabled glasses, valued at USD 10 billion
The global luxury hospitality market is expected to grow at a CAGR of 5.2% from 2023 to 2028, reaching USD 43 billion
The growth of luxury fashion rental services is expected to reach USD 3 billion by 2025, marking a CAGR of 19%, driven by sustainability concerns

Market Valuations and Growth Trends Interpretation

The luxury goods industry, valued at $352 billion in 2022 and driven by a 12% resale growth and a 10% rise in online sales, exemplifies an ever-evolving allure—where brands like Louis Vuitton dominate with over $32 billion in value, watch and jewelry markets flourish, and sustainable vintage and rental options amplify consumer indulgence, all amid a global uptick in UHNWIs and shifting markets from China’s 35% share to the U.S. and Europe’s steadfast luxury appetite.