GITNUXREPORT 2025

Luxury Industry Statistics

Luxury industry expands through sustainability, digitalization, and shifting consumer preferences.

Jannik Linder

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

First published: April 29, 2025

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Almost 70% of luxury consumers prefer purchasing from sustainable and ethically responsible brands

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Data shows that 55% of luxury consumers are interested in products with digital or blockchain certifications to ensure authenticity

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Millennials and Gen Z consumers represented nearly 45% of luxury purchases in 2023

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The majority of luxury homebuyers are aged between 35 and 55 years old, representing over 50% of the market

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Luxury brands that integrate augmented reality (AR) saw a 10% increase in customer engagement

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The majority of luxury retail stores have increased their digital footprint by establishing omnichannel shopping experiences

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Online luxury sales growth reached about 20% in 2022

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The luxury watch segment grew by approximately 5% CAGR from 2018 to 2022

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The demand for personalized luxury products increased by over 30% during 2020-2022

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The total number of ultra-high-net-worth individuals (UHNWIs) ($30M+ assets) increased by 9% in 2022, influencing luxury spending patterns

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The Asia-Pacific luxury beauty market is expected to grow at a CAGR of over 6% through 2027

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85% of luxury brands reported an increase in digital engagement during 2020-2022

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The luxury fragrance market is expected to grow by about 4% annually until 2025

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The global luxury hotel occupancy rate stood at 72% in 2022, a significant rebound from pandemic lows

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The increase in luxury e-commerce users was about 25% from 2020 to 2022

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The luxury automobile segment saw a 3% increase in sales volume in 2023, reaching over 3.5 million units globally

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Asia’s luxury spend per capita is projected to grow to $1,200 by 2025, up from $900 in 2022

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The personalized jewelry segment grew by approximately 8% annually over the past five years

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The high-end luggage segment grew by about 7% CAGR from 2020 to 2023, reaching a market size of over $5 billion

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The demand for limited edition luxury items increased by 15% in 2022, driven by scarcity and exclusivity trends

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The global luxury footwear market was valued at approximately $22 billion in 2022, with a forecasted CAGR of 4% through 2027

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The luxury pen segment experienced a 3% annual growth rate from 2018 to 2022, reflecting sustained interest among collectors

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The number of high-net-worth individuals investing in art increased by 12% in 2022, contributing to the luxury collectibles market growth

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The global market value of luxury eco-friendly packaging increased by 9% annually from 2019 to 2023, indicating a rising trend in sustainable luxury packaging

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The global luxury travel market is projected to grow at a CAGR of 7% through 2027, reaching over $1.8 trillion in value

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The use of AI and data analytics in luxury retail increased by 40% from 2020 to 2023, enhancing personalized shopping experiences

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The global market for luxury baby products is expected to reach $5 billion by 2025, driven by affluent millennial parents

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Affiliate marketing revenues for luxury brands increased by approximately 25% annually from 2020 to 2023, indicating growing digital marketing effectiveness

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Nearly 80% of luxury consumers reported that their shopping behavior was impacted by global economic uncertainty in 2022

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The luxury furniture market is projected to grow at a CAGR of 4.5% through 2027, reaching $13 billion in global sales

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The expansion of eco-conscious luxury brands increased consumer interest by 15% in 2023, especially among younger demographics

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Approximately 60% of wealthy consumers purchase luxury goods for status and self-expression

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The majority of luxury consumers prefer purchasing via brand flagship stores, comprising approximately 55% of luxury sales

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Research indicates that 65% of wealthy consumers are willing to pay a premium for products that are environmentally sustainable

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Brand loyalty in the luxury industry remains high, with over 60% of consumers exhibiting repeat purchase behavior

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The participation of Generation Z in luxury market transactions increased to about 20% in 2023, reflecting their rising purchasing power

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The share of Millennials driving luxury jewelry sales is approximately 35%, a significant increase over previous years

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Over 50% of luxury goods consumers are influenced by social media influencers and celebrity endorsements

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The premium segment in the luxury watch industry accounted for nearly 65% of total watch sales in 2022

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The global luxury market was valued at approximately $348 billion in 2021

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The global secondhand luxury market is projected to reach $33 billion by 2025

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Jewelry accounts for approximately 40% of total luxury goods sales

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The luxury handbag market was valued at over $50 billion in 2022

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The average price of a SAP-certified luxury SUV increased by 12% from 2019 to 2023

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The global market for luxury skincare products is projected to reach $24 billion by 2025

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The luxury accessory segment, including scarves and sunglasses, grew by around 5% annually over recent years, reaching over $15 billion globally

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The luxury eyewear market experienced a growth of around 6% CAGR from 2019 to 2022, valued at nearly $15 billion

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The world's most valuable luxury brand in 2023 was Louis Vuitton, with an estimated brand value of over $40 billion

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

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Russia accounted for roughly 8% of global luxury sales in 2022

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The largest share of luxury perfume sales occurs in North America, accounting for over 35% of the global market

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Key Highlights

The global luxury market was valued at approximately $348 billion in 2021
The Asia-Pacific region accounted for over 40% of the global luxury market in 2022
Online luxury sales growth reached about 20% in 2022
Millennials and Gen Z consumers represented nearly 45% of luxury purchases in 2023
Almost 70% of luxury consumers prefer purchasing from sustainable and ethically responsible brands
The global secondhand luxury market is projected to reach $33 billion by 2025
The luxury watch segment grew by approximately 5% CAGR from 2018 to 2022
The demand for personalized luxury products increased by over 30% during 2020-2022
Russia accounted for roughly 8% of global luxury sales in 2022
The total number of ultra-high-net-worth individuals (UHNWIs) ($30M+ assets) increased by 9% in 2022, influencing luxury spending patterns
The Asia-Pacific luxury beauty market is expected to grow at a CAGR of over 6% through 2027
Jewelry accounts for approximately 40% of total luxury goods sales
The luxury handbag market was valued at over $50 billion in 2022

The luxury industry is experiencing a dynamic transformation driven by rapid digital growth, shifting consumer preferences towards sustainability, and a rising influence of younger generations, with the market valued at over $348 billion in 2021 and projected to continue its impressive expansion through 2027.

Consumer Preferences

Almost 70% of luxury consumers prefer purchasing from sustainable and ethically responsible brands
Data shows that 55% of luxury consumers are interested in products with digital or blockchain certifications to ensure authenticity

Consumer Preferences Interpretation

In an era where opulence meets conscience, nearly 70% of luxury consumers are choosing brands that not only dazzle but also do good, while over half seek digital badges of authenticity—a telltale sign that true luxury now speaks the language of sustainability and transparency.

Demographics

Millennials and Gen Z consumers represented nearly 45% of luxury purchases in 2023
The majority of luxury homebuyers are aged between 35 and 55 years old, representing over 50% of the market

Demographics Interpretation

In 2023, nearly half of luxury spending was fueled by Millennials and Gen Z, demonstrating that high-end tastes are increasingly age-agnostic, especially as more affluent 35-55-year-olds snap up luxury homes—showing that luxury is less about age and more about an appetite for exclusivity.

Digital Innovation and E-commerce in Luxury

Luxury brands that integrate augmented reality (AR) saw a 10% increase in customer engagement
The majority of luxury retail stores have increased their digital footprint by establishing omnichannel shopping experiences

Digital Innovation and E-commerce in Luxury Interpretation

Luxury brands leveraging augmented reality and omnichannel strategies are not just boosting customer engagement by 10%, but also turning their digital footprints into high-end runway shows—where tech and opulence walk hand in hand.

Market Growth Trends and Consumer Behavior

Online luxury sales growth reached about 20% in 2022
The luxury watch segment grew by approximately 5% CAGR from 2018 to 2022
The demand for personalized luxury products increased by over 30% during 2020-2022
The total number of ultra-high-net-worth individuals (UHNWIs) ($30M+ assets) increased by 9% in 2022, influencing luxury spending patterns
The Asia-Pacific luxury beauty market is expected to grow at a CAGR of over 6% through 2027
85% of luxury brands reported an increase in digital engagement during 2020-2022
The luxury fragrance market is expected to grow by about 4% annually until 2025
The global luxury hotel occupancy rate stood at 72% in 2022, a significant rebound from pandemic lows
The increase in luxury e-commerce users was about 25% from 2020 to 2022
The luxury automobile segment saw a 3% increase in sales volume in 2023, reaching over 3.5 million units globally
Asia’s luxury spend per capita is projected to grow to $1,200 by 2025, up from $900 in 2022
The personalized jewelry segment grew by approximately 8% annually over the past five years
The high-end luggage segment grew by about 7% CAGR from 2020 to 2023, reaching a market size of over $5 billion
The demand for limited edition luxury items increased by 15% in 2022, driven by scarcity and exclusivity trends
The global luxury footwear market was valued at approximately $22 billion in 2022, with a forecasted CAGR of 4% through 2027
The luxury pen segment experienced a 3% annual growth rate from 2018 to 2022, reflecting sustained interest among collectors
The number of high-net-worth individuals investing in art increased by 12% in 2022, contributing to the luxury collectibles market growth
The global market value of luxury eco-friendly packaging increased by 9% annually from 2019 to 2023, indicating a rising trend in sustainable luxury packaging
The global luxury travel market is projected to grow at a CAGR of 7% through 2027, reaching over $1.8 trillion in value
The use of AI and data analytics in luxury retail increased by 40% from 2020 to 2023, enhancing personalized shopping experiences
The global market for luxury baby products is expected to reach $5 billion by 2025, driven by affluent millennial parents
Affiliate marketing revenues for luxury brands increased by approximately 25% annually from 2020 to 2023, indicating growing digital marketing effectiveness
Nearly 80% of luxury consumers reported that their shopping behavior was impacted by global economic uncertainty in 2022
The luxury furniture market is projected to grow at a CAGR of 4.5% through 2027, reaching $13 billion in global sales
The expansion of eco-conscious luxury brands increased consumer interest by 15% in 2023, especially among younger demographics

Market Growth Trends and Consumer Behavior Interpretation

As luxury consumers increasingly seek personalized, sustainable, and digitally engaged experiences amid a growing ultra-wealthy class and global economic uncertainties, the industry is delicately balancing exclusivity with innovation—proof that in the world of opulence, growth and complexity are now the same statement.

Market Segments and Consumer Preferences

Approximately 60% of wealthy consumers purchase luxury goods for status and self-expression
The majority of luxury consumers prefer purchasing via brand flagship stores, comprising approximately 55% of luxury sales
Research indicates that 65% of wealthy consumers are willing to pay a premium for products that are environmentally sustainable
Brand loyalty in the luxury industry remains high, with over 60% of consumers exhibiting repeat purchase behavior
The participation of Generation Z in luxury market transactions increased to about 20% in 2023, reflecting their rising purchasing power
The share of Millennials driving luxury jewelry sales is approximately 35%, a significant increase over previous years
Over 50% of luxury goods consumers are influenced by social media influencers and celebrity endorsements
The premium segment in the luxury watch industry accounted for nearly 65% of total watch sales in 2022

Market Segments and Consumer Preferences Interpretation

Luxury consumers are increasingly driven by status, sustainability, and social influence, with flagship stores and digital endorsements fueling a market where loyalty remains high and Gen Z and Millennials are rapidly reshaping the landscape.

Product Categories and Market Valuations

The global luxury market was valued at approximately $348 billion in 2021
The global secondhand luxury market is projected to reach $33 billion by 2025
Jewelry accounts for approximately 40% of total luxury goods sales
The luxury handbag market was valued at over $50 billion in 2022
The average price of a SAP-certified luxury SUV increased by 12% from 2019 to 2023
The global market for luxury skincare products is projected to reach $24 billion by 2025
The luxury accessory segment, including scarves and sunglasses, grew by around 5% annually over recent years, reaching over $15 billion globally
The luxury eyewear market experienced a growth of around 6% CAGR from 2019 to 2022, valued at nearly $15 billion
The world's most valuable luxury brand in 2023 was Louis Vuitton, with an estimated brand value of over $40 billion

Product Categories and Market Valuations Interpretation

With a global luxury market soaring past $348 billion—driven by jewelry, handbags, and high-end SUVs—and the secondhand sector set to hit $33 billion by 2025, it’s clear that opulence isn’t just about wealth but also savvy resale, as brands like Louis Vuitton maintain their crown while accessories and skincare keep pace with steady growth.

Regional Market Insights and Demographics

The Asia-Pacific region accounted for over 40% of the global luxury market in 2022
Russia accounted for roughly 8% of global luxury sales in 2022
The largest share of luxury perfume sales occurs in North America, accounting for over 35% of the global market

Regional Market Insights and Demographics Interpretation

These figures unveil a fascinating luxury landscape: Asia-Pacific's vibrant appetite fuels over 40% of the global market, Russia's steady grip accounts for 8%, while North America's aromatic cravings dominate with over a third of perfume sales—highlighting a regional mosaic of opulence and consumer preference.