Although growth is slowing, global personal luxury sales will increase from $415.45 billion in 2023 to $499.59 billion in 2027, according to a forecast by Insider Intelligence/eMarketer.
The United States and China are the world’s two largest personal luxury markets, accounting for more than half of all luxury sales by 2027.
According to the projection, e-commerce will account for 20% of personal luxury sales this year. This is ahead of total e-commerce sales, which will account for 19.5% of retail sales.
Ariel Ben Solomon is the Growth and Strategy manager at Ecomhunt. He is the host of the Ecomhunt Podcast. Can be followed on Twitter at @ArielBenSolomon
