Spending on luxury products remains resilient, particularly in emerging markets, according to a report by Deloitte Global. While many consumers value product quality, they also place high value on the emotional experiences associated with buying luxury products. CMOs may benefit from understanding consumer attitudes and purchase behaviors regarding luxury products.
Emerging consumers markets continue to drive luxury market growth. Read report to learn more.
Although the luxury market is ready to grow, its rules are changing rapidly. Market development is leading to significant growth in experiential luxury. Digital is happening quickly and forcefully, driving luxury brands to be far more customer-centered in everything they do. Learn how BCG can help.