Luxury Goods in the United Kingdom

October 2024 | | ID: LA0C8172C9EEN
Euromonitor International Ltd

Abstracts

Luxury goods in the UK is fragmented, and positive growth is only evident across some categories. The market initially proved resilient to inflationary pressures, the pandemic and Brexit. However, the stability seen in recent years for luxury goods in the UK is waning. Luxury brands are developing strategies to remain resilient to economic uncertainties, such as inflation and shifting consumer spending patterns.

Euromonitor International's Luxury Goods in United Kingdom report offers a comprehensive guide to the size and shape of the Luxury Goods market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market and their effects on Luxury Goods retailing along with the development of consumers’ shopping patterns. Forecasts to 2028 illustrate how the market is set to change

Product coverage: Experiential Luxury, Fine Wines/Champagne and Spirits, Personal Luxury, Premium and Luxury Cars.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

• Get a detailed picture of the Luxury Goods market;
• Pinpoint growth sectors and identify factors driving change;
• Understand the competitive environment, the market’s major players and leading brands;
• Use five-year forecasts to assess how the market is predicted to develop.

Euromonitor International has over 40 years' experience of publishing market research reports, business reference books and online information systems. With offices in London, Chicago, Singapore, Shanghai, Vilnius, Dubai, Cape Town, Santiago, Sydney, Tokyo and Bangalore and a network of over 800 analysts worldwide, Euromonitor International has a unique capability to develop reliable information resources to help drive informed strategic planning.

Contents

Luxury Goods in the United Kingdom
Euromonitor International
October 2024

LIST OF CONTENTS AND TABLES

LUXURY GOODS IN THE UNITED KINGDOM
EXECUTIVE SUMMARY
Luxury goods in 2024: The big picture

2024 KEY TRENDS

Competitive landscape
Retailing developments
What next for luxury goods?
MARKET DATA
Table 1 Sales of Luxury Goods by Category: Value 2019-2024
Table 2 Sales of Luxury Goods by Category: % Value Growth 2019-2024
Table 3 Inbound Receipts for Luxury Goods by Country of Origin: Value 2019-2024
Table 4 NBO Company Shares of Luxury Goods: % Value 2019-2023
Table 5 LBN Brand Shares of Luxury Goods: % Value 2020-2023
Table 6 Distribution of Luxury Goods by Format and Category: % Value 2024
Table 7 Forecast Sales of Luxury Goods by Category: Value 2024-2029
Table 8 Forecast Sales of Luxury Goods by Category: % Value Growth 2024-2029
DISCLAIMER
SOURCES
Summary 1 Research Sources
EXPERIENTIAL LUXURY IN THE UNITED KINGDOM
KEY DATA FINDINGS

2024 DEVELOPMENTS

The ongoing value behind experiences as part of luxury lifestyles
Leveraging sustainability and AI drives experiential luxury’s development
Both tradition and innovation feature in the competitive landscape
PROSPECTS AND OPPORTUNITIES
Luxury footprint expanding beyond long-established UK cities
Sustainable experiential luxury will continue to be a cornerstone for new openings
Heritage, health and harmony to determine future developments
CATEGORY DATA
Table 9 Sales of Experiential Luxury by Category: Value 2019-2024
Table 10 Sales of Experiential Luxury by Category: % Value Growth 2019-2024
Table 11 NBO Company Shares of Experiential Luxury: % Value 2019-2023
Table 12 LBN Brand Shares of Experiential Luxury: % Value 2020-2023
Table 13 Forecast Sales of Experiential Luxury by Category: Value 2024-2029
Table 14 Forecast Sales of Experiential Luxury by Category: % Value Growth 2024-2029
FINE WINES/CHAMPAGNE AND SPIRITS IN THE UNITED KINGDOM
KEY DATA FINDINGS

2024 DEVELOPMENTS

Positive performance and repositioning English wine
Artisanal craft remains a focus for new developments
Health-conscious drinking driven by Generation Z and embraced by luxury leaders
PROSPECTS AND OPPORTUNITIES
Fine wines and champagne remain a cornerstone of category performance
Premiumisation of at-home drinking
Sustainability, education and wellness to drive future innovation
CATEGORY DATA
Table 15 Sales of Fine Wines/Champagne and Spirits by Category: Value 2019-2024
Table 16 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2019-2024
Table 17 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2019-2023
Table 18 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2020-2023
Table 19 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2019-2024
Table 20 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2024-2029
Table 21 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2024-2029
PREMIUM AND LUXURY CARS IN THE UNITED KINGDOM
KEY DATA FINDINGS

2024 DEVELOPMENTS

A troubling year for premium and luxury cars
Technology innovations continue to drive development decisions
Consolidated competitive landscape remains fairly stable
PROSPECTS AND OPPORTUNITIES
Shifting consumer preferences will dictate priorities
Regulatory pressures determine technological developments
Sustainability across the value chain will be driven by manufacturers and consumers
CATEGORY DATA
Table 22 Sales of Premium and Luxury Cars: Value 2019-2024
Table 23 Sales of Premium and Luxury Cars: % Value Growth 2019-2024
Table 24 NBO Company Shares of Premium and Luxury Cars: % Value 2019-2023
Table 25 LBN Brand Shares of Premium and Luxury Cars: % Value 2020-2023
Table 26 Forecast Sales of Premium and Luxury Cars: Value 2024-2029
Table 27 Forecast Sales of Premium and Luxury Cars: % Value Growth 2024-2029
PERSONAL LUXURY IN THE UNITED KINGDOM
KEY DATA FINDINGS

2024 DEVELOPMENTS

Designer apparel and footwear (ready-to-wear)
Luxury eyewear
Luxury jewellery
Luxury leather goods
Luxury wearable electronics
Luxury timepieces
Luxury writing instruments and stationery
Super premium beauty and personal care
PROSPECTS AND OPPORTUNITIES
Continual need to adapt to shifting consumer behaviour
Sustainability and “cost to produce” will continue to be of interest
Luxury retailing experiences to leverage omnichannel strategies
CATEGORY DATA
Table 28 Sales of Personal Luxury by Category: Value 2019-2024
Table 29 Sales of Personal Luxury by Category: % Value Growth 2019-2024
Table 30 NBO Company Shares of Personal Luxury: % Value 2019-2023
Table 31 LBN Brand Shares of Personal Luxury: % Value 2020-2023
Table 32 Distribution of Personal Luxury by Format: % Value 2019-2024
Table 33 Forecast Sales of Personal Luxury by Category: Value 2024-2029
Table 34 Forecast Sales of Personal Luxury by Category: % Value Growth 2024-2029