Bain Luxury Report 2024 Pdf -

Each grew 3% to 5% as consumers sought "small indulgences" or "lipstick effect" purchases.

The standout insight: the aspirational middle-class consumer has pulled back significantly, while top-tier VIC (Very Important Client) spending remains robust. This explains why ultra-high-end brands (Hermès, Brunello Cucinelli) are fine, while accessible luxury (some entry-level bags, watches) is hurting. bain luxury report 2024 pdf