Brazilian luxury market registers growth of 7.8% in 2018

The year 2018, officially closed on the 31st of December, undoubtedly was remarkable for the Brazilians. From a business standpoint, however, events such as the World Cup and presidential elections have contributed to slowing trade across the country.

Therefore, the information recently released by Euromonitor that the luxury segment in Brazil registered a growth that totaled almost 8% in relation to the previous year is cause for celebration. Much more important than establishing new profit margins for companies operating in the industry, the index indicates that consumers have definitely come back to believe in the market and thus move the economy.

According to the report, one of the main marketing niches responsible for the good performance of the sector in a global way was the automobile. The luxury cars played a strategic role and only one of the most traditional brands in the market, Mercedes-Benz, accumulated a turnover in the order of 3.9 billion dollars. Apart from exclusivity, comfort and safety were essential items when buying a luxury car in the country.

Another important information of the study and that indicates that the democratization of the luxury market is a trend already consolidated in the national territory is that the middle class played a largely significant role in the acquisition of high standard goods.

This means that in addition to the preconceived notion that it is only the millionaires who enjoy the purchase of better quality items, different social classes are expanding their access and contributing to the growth of the sector. Whether it is through the purchase of fashion items, the tourist activity and even the pleasure of enjoying a refined dish or a high-class drink, the consumption of premium products reached the largest number of Brazilians last year.

In the balance of the high-end market in 2018, it is worth highlighting the question of the value of the experiences that brands have been offering their customers. The idea of ​​providing consumers with something that goes beyond the product they have acquired is a reality across the country and, without a doubt, only tends to grow in this and in the coming years.

Leave a Reply

Your email address will not be published.