The Altagamma-Bain Luxury Market Monitor 2021 reveals the resilience of the luxury market amid COVID-19, highlighting rapid digitalization and shifting consumer trends. It emphasizes the growth in online channels, sustainability focus, and market shifts towards Asia and the Americas. The report’s key findings include:
Resilience of the luxury goods market during COVID-19.
Accelerated shift towards digitalization in the luxury sector.
Changing consumer preferences impacting market dynamics.
Significant growth in online sales channels.
Increased focus on sustainability in the luxury industry.
Geographical market shifts, with notable growth in Asian and American markets.
Source: Altagamma Bain