Xerfi Global has recently published a study on the Global Luxury Goods Industry, which, having seen strong tailwinds for many years, has now hit the doldrums in terms of sales growth.
From 2010 to 2015, global personal luxury goods revenues grew by an average of almost 8% per year. In 2016 however, market growth contracted by almost 1% due to a number of factors: a sluggish global economy combined with political uncertainty brought about by continued terrorism in Europe and unknowns surrounding Brexit and the US elections, as well as decelerating Chinese consumption of luxury sales. [...]
