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Australia Luxury Goods Market Size, Share, Trends, Growth: By Type: Accessories, Perfumes and Cosmetics, Clothing, Leather Goods, Footwear, Others; By End Use: Women, Men, Generation X; By Distribution Channel: Offline, Online; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Australia Luxury Goods Market Outlook
The Australia luxury goods market size was valued at USD 7.1 billion in 2023. The market is further projected to grow at a CAGR of 3.60% between 2024 and 2032, reaching a value of USD 7.6 billion by 2032.
Key Takeaways
- Australia’s luxury goods market is flourishing, driven by demand for high-end fashion, accessories, and luxury travel experiences.
- Australians allocate a significant portion of their disposable income to luxury items for self-improvement.
- In 2018-2019, the luxury goods industry in Australia comprised 385 businesses, employing 3,581 people.
- Women in Australia typically spend approximately USD 3,600 annually on perfumes and cosmetic products.
The Australia luxury goods market share is experiencing robust growth due to country’s rising GDP per capita, which contributes to increased disposable income among consumers, enabling them to indulge in luxury purchases. Australians are increasingly investing in high-end fashion, accessories, and luxury travel experiences driven by the desire for exclusivity and quality in their purchases.
Moreover, the growing internet penetration in Australia is anticipated to significantly boost online sales in the luxury goods market by 2024, reflecting the importance of digital accessibility in driving market growth. Additionally, Australia's sizable population with a strong affinity for luxury brands creates a substantial consumer base that attracts brands to tailor their offerings to meet the consumer’s demands.
The Australia luxury goods market development is dependent on three major end users, women, men, and generation X. Women remain significant consumers of luxury goods, showing a preference for high-end fashion, designer apparel, luxury handbags, and fine jewellery, with brands tailoring their strategies to appeal to their desire for exclusivity and quality.
On the other hand, men's interest in luxury goods has steadily increased, focusing on luxury watches, premium leather accessories, and high-end grooming products, prompting brands to cater to their evolving tastes. Also, generation X, born between the mid-1960s and early 1980s, represents a lucrative market valuing both timeless classics and modern luxury. Brands are using online platforms, social media, and cutting-edge technologies, such as virtual fitting rooms to engage with this generation to provide personalised experiences and boost market revenue.
Market Segmentation
Australia Luxury Goods Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Accessories
- Perfumes and Cosmetics
- Clothing
- Leather Goods
- Footwear
- Others
Market Breakup by End Use
- Women
- Men
- Generation X
Market Breakup by Distribution Channel
- Offline
- Online
Market Breakup by Region
- South Wales
- Victoria
- Queensland
- Western Australia
- Australian Capital Territory
- Others
Competitive Landscape
Market players are expanding their product portfolio, further engaging in partnerships and acquisitions to enter international markets and stay ahead in the competition.
- Louis Vuitton Australia Pty Ltd
- Guccio Gucci S.p.A.
- CHANEL
- ROLEX SA
- ZIMMERMANN Hong Kong
- Dion Lee Enterprise Pty Ltd.
- Ralph Lauren Australia Pty Ltd.
- YVES SAINT LAURENT
- Cartier SA
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
|
| Breakup by End Use |
|
| Breakup by Distribution Channel |
|
| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot Australia Luxury Goods Market
7 Opportunities and Challenges in the Market
8 Australia Luxury Goods Market Overview
8.1 Key Industry Highlights
8.2 Australia Luxury Goods Historical Market (2018-2023)
8.3 Australia Luxury Goods Market Forecast (2024-2032)
9 Australia Luxury Goods Market by Type
9.1 Accessories
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Perfumes and Cosmetics
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Clothing
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 Leather Goods
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.5 Footwear
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.6 Others
10 Australia Luxury Goods Market by End Use
10.1 Women
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Men
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Generation X
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 Australia Luxury Goods Market by Distribution Channel
11.1 Offline
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Online
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Australia Luxury Goods Market by Region
12.1 South Wales
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Victoria
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Queensland
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Western Australia
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Australian Capital Territory
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicator for Price
13.4 Key Indicator for Demand
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Louis Vuitton Australia Pty Ltd
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Guccio Gucci S.p.A.
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 CHANEL
14.2.3.1 Product Portfolio
14.2.3.2 Demographic Reach and Achievements
14.2.3.3 Certifications
14.2.4 ROLEX SA
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 ZIMMERMANN Hong Kong
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Dion Lee Enterprise Pty Ltd.
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Ralph Lauren Australia Pty Ltd.
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 YVES SAINT LAURENT
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Cartier SA
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Australia Luxury Goods Market: Key Industry Highlights, 2018 and 2032
2. Australia Luxury Goods Market: Key Industry Highlights, 2018 and 2032
3. Australia Luxury Goods Historical Market: Breakup by Type (USD Billion), 2018-2023
4. Australia Luxury Goods Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. Australia Luxury Goods Historical Market: Breakup by End Use (USD Billion), 2018-2023
6. Australia Luxury Goods Market Forecast: Breakup by End Use (USD Billion), 2024-2032
7. Australia Luxury Goods Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
8. Australia Luxury Goods Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
9. Australia Luxury Goods: Historical Market: Breakup by Region (USD Billion), 2018-2023
10. Australia Luxury Goods Market Forecast: Breakup by Region (USD Billion), 2024-2032
11. Australia Luxury Goods Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 7.1 billion.
The market is expected to grow at a CAGR of 3.60% between 2024 and 2032.
The luxury goods market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 7.6 billion by 2032.
The increasing number of high-net-worth individuals, rising demand from millennials and Generation Z, growth in travel and tourism, and the introduction of innovative products by luxury brands are some of the major factors propelling the growth of the market.
Brands are using online platforms, social media, and cutting-edge technologies (such as chatbots, virtual fitting rooms, and live streaming) to engage with customers, provide personalised experiences, and boost sales. Additionally, luxury brands are embracing sustainability, eco-friendly practices, and ethical sourcing to cater to socially conscious consumers, leading to market growth.
Regions considered in the market are South Wales, Victoria, Queensland, Western Australia, and Australian Capital Territory, among others.
Accessories, perfumes and cosmetics, clothing, leather goods, and footwear, among others are some of the different types of luxury goods considered in the report.
Based on end use, the market segmentations include women, men, and generation X.
Offline and online channels are two distribution channels considered in the market.
Key players in the market are Louis Vuitton Australia Pty Ltd, Guccio Gucci S.p.A., CHANEL, ROLEX SA, ZIMMERMANN Hong Kong, Dion Lee Enterprise Pty Ltd., Ralph Lauren Australia Pty Ltd., YVES SAINT LAURENT, and Cartier SA, among others.
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