Luxury retail demonstrated resilience throughout the pandemic, underscoring the significance of physical retailing and personalised customer experiences. With the return of travel and in-store shopping as the norm, luxury retailers were well-prepared to welcome customers, leveraging new technological advancements and seamlessly blending hybrid and omnichannel capabilities with their already exemplary traditional retail approaches.

2022 turned out to be a very successful year for the European luxury sector. According to Savills Global Luxury Retail Report, European luxury retail saw a 77% increase in new store openings year-on-year (2022 ver. 2021) with its global share of new openings climbing to 23%, ranking it second to China and ahead of North America.

Current expansion of the European luxury market is mainly contributed by the growing popularity of aspirational luxury products among young millennials and Gen Z. These shoppers often save money to spend on luxury products. They are also the key driver behind many changes in the sector, namely digital expansion, pop-up formats or concept stores, sustainability, and a rise in luxury resale.

Sensormatic Solutions has diligently observed the evolving landscape of the luxury and premium retail market, closely monitoring shopper sentiments in recent years. This thorough analysis aims to discern changing patterns and provide unparalleled insights into shopper behaviour, inventory authenticity, and secure shopping experiences.

This report delves into:

• the existing landscape of luxury and premium retail within the top five European economies
• footfall trends and advancements across the Luxury, Premium and Everyday retail sectors
• a portrait of a European High-Income Shopper

Unlock the insights you need to thrive in today's challenging landscape.

Download your copy of the report now and stay ahead of the curve.