The luxury market in the expectation of growth

Last Tuesday, January 16, we published here in the Therapy of Luxury a material that highlighted the research recently released by Euromonitor on the luxury market in Brazil.

Among the results detected by the study, was the finding that the segment of high standard in the country suffered a retraction of 8.5% in 2017. Last year, really, was not positive for the most diverse market niches. Political instability coupled with the economic crisis has made consumers push the brake and companies cut back on their investments.

Although with less emphasis than in much of the economic segments, the luxury sector felt the fall and among the main products that contributed to this picture were the cars of high standard and the premium drinks.

Even though at first glance the results are not very encouraging, it is never too much to remember that compared to 2016 there was a real market growth and the Euromonitor perspective is that the evolution scenario will continue in the coming years.

The first half of this decade was marked by a progressive growth of the luxury market. Increasing rates widened year and year, and in a way, both the market and the customers of premium products have become accustomed to this scenario.

The recent Brazilian and global economic evolution has caused this positive scenario to be shaken and if it is correct to say that the high-end market has less impact with economic crises, it is also appropriate to think that it is impacted yes.

Still according to Euromonitor research data, the sector should grow by about 2.5% in 2018 and both the brands and their customers believe in the market warming.

In Brazil, the high-standard sector is increasingly consolidated as an important vector of development, with great capacity to generate jobs, incomes and contribute to economic progress. Let’s hope that by the end of this year, the traditional celebrations can be made with even more enthusiasm and celebrate the results of a great and luxurious year.