Three trends shaping the luxury retails sector in 2025
Inside Retail
JANUARY 16, 2025
Despite modestly positive expectations for 2024, the luxury retail market did not pan out as merchants had hoped. According to a 2024 report released by global management consulting firm Bain & Company, this market dropped two per cent from an all-time high of US$387 billion to US$381 billion. One major factor that played a role in diminished luxury sales, several retail experts noted, is the lack of innovative differentiation amongst retailers and high-end brands seeking out the attention o
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