Savills publish Global Luxury Retail 2024 Outlook
Savills have published their annual report on luxury, and although there is a focus on real estate, the report looks at the global marketplace and the luxury market dynamics within it... "And while there are headwinds facing the global luxury retail market, these will likely prove cyclical, reflecting a normalisation in spend. Perspective is needed as there has been no material change to the fundamentals driving luxury spend; forecasts still point to average annual growth of between 4% to 8% by 2030 (Bain & Company). Likewise, store expansion slowed last year on the back of a sharp acceleration post-pandemic. However,