The personal luxury market of high-end
accessories, leather goods and apparel has
snapped back to pre-pandemic levels as U.S.
shoppers outspent those in China in pursuit of the
latest fashion trends, according to a study released
by the Bain consultancy.
Global consumer spending on personal luxury
goods, including the latest sneaker trend or
design collaboration, is forecast to spike by 29%
this year, to 283 billion euros ($325 billion). That’s
a return to 2019 levels and a turnaround from
the gloom of the 2020 pandemic lockdowns that
shuttered stores and halted international travel.