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Personal luxury market set for a flat year: BCG

Financial Express Lucknow

|

July 25, 2025

Who’s Still Buying?

- Geetika Srivastava

For the first time in nearly a decade, the global personal luxury goods market is expected to experience flat to slightly negative growth in 2025, according to a report by the Boston Consulting Group. The report, named ‘True Luxury Global Consumer Insights 2025’, released on Thursday, states that the slowdown signals a critical shift. Aspirational consumers, who were once considered the industry’s growth engine, are stepping back, while ultra-high-net-worth individuals (UHNI) are becoming key to its future.

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