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Reuters

Luxury sales flat in 2016 as consumers shun traditional products

Luxury sales flat in 2016 as consumers shun traditional products

  • octubre 20, 2016
  • min read

Reuters

Luxury sales flat in 2016 as consumers shun traditional products

The personal luxury goods market won't grow this year because tourist spending is slowing down and wealthy consumers prefer to spend on design, travel and gourmet food rather than clothes and accessories, Bain & Company said on Thursday.

"There is a progressive shift from physical products to experiences, especially in the last year," Federica Levato, partner at Bain & Company and co-author of the report, told Reuters, predicting that trend would continue.