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As sales growth of luxury goods slows in established markets, brands will expand in emerging regions like the Middle East. There, rising wealth among a young population that鈥檚 bringing their spending home will boost demand.

And this sparked a viable craze among Chinese aspirational luxury shoppers because the travel book is expensive for a book, but it's nowhere near the price of a Louis Vuitton handbag. And some even went to all the shops that they could to buy different books so that they could collect all of the tote bags.

Department store websites and apps lead. Respondents to our survey were more likely to have made an online purchase than an offline one at department stores, off-price retailers, and brand-owned stores鈥攖he top three types of retailers for personal luxury goods

Temu鈥檚 number of unique US visitors increased by nearly nine times between September and December 2022, according to Comscore Media Metrix Multi-Platform. That made Temu more visited than Chinese goods sellers Shein and Wish by the end of last year, before it rose to greater prominence with its Super Bowl ad campaign.

Worldwide luxury sales will eke out 3.2% growth in 2024. Except for the pandemic year of 2020, when sales fell by 19.3%, this is the smallest gain we鈥檝e seen since we started tracking the metric in 2018.

The EV market continued to diversify beyond luxury models, but the lack of EVs in the sub-$25,000 segment stifled wider adoption in North America. Chinese EV makers like BYD and Geely continued to gain ground in emerging markets with low-cost models designed for specific regions. Strategic partnerships and investments grew. Volkswagen invested $5 billion in Rivian.

L鈥橭r茅al鈥檚 Aesop purchase is the company鈥檚 biggest yet: The beauty giant is spending $2.53 billion to stake a larger claim to the highly profitable luxury skincare category.

Mytheresa knows what luxury shoppers want: The luxury ecommerce retailer grew sales by 7.6%, bucking the global luxury slowdown.

China sends a message to brands boycotting products from Xinjiang: Beijing is threatening to block Calvin Klein parent PVH鈥檚 access to China in an escalation of its 鈥渦nreliable entities鈥� tool.

Paramount's extensive localization efforts for "Gladiator II," including country-specific promotions and luxury partnerships, demonstrate the evolving sophistication of international marketing.

To find the right balance between luxury and value, retailers can use targeted promotions to meet consumers where they are鈥攆inancially and emotionally. 3. Optimize for mobile. Last year, mcommerce drove 55.0% of total holiday ecommerce sales and 10.9% of total holiday retail sales.

Discount and value-focused retailers, like Walmart and Dollar General, will continue to benefit from consumers trading down in the grocery category, while luxury retailers like LVMH Moet Hennessy Louis Vuitton and Capri Holdings are bullish as China recovers from pandemic lockdowns. This was originally featured in the Retail Daily newsletter.

The countries they turn to most are China (29.0%), the US (10.0%), Germany (9.9%), Spain (9.3%), and Italy (7.4%). Consumers who prefer buying domestic over cross-border are worried about fraud and shipping costs.

I think we would see, for example, luxury brands, electric vehicle manufacturers, or even household appliance companies hold off on spending, at least in the short term, while they see how the economy starts shaping up.". Connected TV (CTV) could see spending reductions exceeding 12% under a heavy tariff scenario鈥攖he highest among digital channels.

Amazon鈥檚 scale makes customer acquisition a lot easier, especially as difficulties in China drive companies, including Est茅e Lauder, to search for growth opportunities closer to home. Roughly 100 million unique beauty shoppers visit Amazon鈥檚 site per month, according to Melis del Rey, the company鈥檚 general manager of US stores, beauty, baby, and beauty technology.

Sales in this category will rise 10.4% in 2025 to 拢3.53 billion ($4.51 billion) as consumers continue spending on small luxuries and affordable beauty 鈥渄upes鈥� from online specialists. TikTok Shop, meanwhile, is appealing to cost-conscious shoppers. Elsewhere, growth will be modest.

Chinese ultra-fast-fashion platforms are capturing market share. Temu and Shein are the largest foreign online providers. Together, they generated 鈧�2.7 billion to 鈧�3.3 billion ($2.92 billion to $3.57 billion) in 2024 through aggressive pricing and social media marketing, per HDE.

I think Walmart's focus on its marketplace is going to be higher end goods like luxury goods, handbags, collectibles. It's announced a partnership with StockX, which is a big sneaker resale platform to sell on Walmart. So it's really going for the branded higher end of the resale market. And so there there's not as much competition with the Chinese players.

Automakers slash jobs as EV struggles mount: Ford, GM, and Stellantis face competition from Chinese rivals and slow EV demand, driving steep layoffs and threatening their bottom lines.

And they still saw a strong growth in China in particular, which has been a very challenged market. But what I'm most excited about, and this is something that's so critical for fashion and luxury brands, is they also announced a new creative director whose name is Heider Ackerman.

The big picture: Fast-food chains are facing a host of global challenges, including plunging sales in the Middle East as well as weak demand from consumers in China, the US, and other markets.

The Biden administration wants to quickly advance plans to abolish the import tariff loophole for goods shipped directly to consumers from China, which helps keep prices low, while President-elect Trump has proposed massively higher tariffs on Chinese goods.

Boost the exclusivity factor for luxury. Luxury fashion brand Telfar has leveraged that same FOMO factor in a very literal sense with livestreams that offer exclusive access to certain products. The brand already releases bags via 鈥渄rops,鈥� where consumers need to be in the know.

And in the ultra-low-cost segment, China-based ecommerce platforms Temu and Shein are increasing their beauty product assortments. But even with more beauty products in more places, many retailers will struggle to gain traction. Growth will be concentrated in a few key channels, according to McKinsey data.

The company may look to draw on the success of Douyin in China, which saw a boost not only in ecommerce sales, but also service sales such as food delivery and travel bookings, as a result of shoppable livestreams.