Press release
Australia Luxury Goods Market Projected to Reach USD 14.5 Billion by 2033
Market OverviewThe Australia luxury goods market size reached USD 7.9 Billion in 2024 and is projected to grow to USD 14.5 Billion by 2033. The market is expected to expand at a CAGR of 6.91% during the forecast period of 2025-2033. Key growth drivers include rapid urbanization, increasing disposable incomes, evolving consumer preferences, significant e-commerce growth in luxury retail, the rising influence of social media and celebrity endorsements, and cultural shifts favouring experiences over ownership.
For more details, visit the Australia Luxury Goods Market https://www.imarcgroup.com/australia-luxury-goods-market
How AI is Reshaping the Future of Australia Luxury Goods Market:
• AI enhances personalization in luxury retail through tailored recommendations, improving consumer satisfaction and driving sales growth.
• Integration of augmented reality powered by AI enables virtual product trials, enriching customer experience and engagement.
• AI-driven analytics supports seamless logistics and inventory management, optimizing supply chains and reducing operational costs.
• Social commerce platforms utilizing AI target niche affluent audiences, expanding market reach and attracting younger luxury consumers.
• AI-enabled customer data insights help brands to innovate VIP services, exclusive virtual shopping events, and deepen emotional connections.
• Luxury digital investment platforms leverage AI to offer authenticated rare collectibles, enhancing trust and expanding investment opportunities.
Grab a sample PDF of this report: https://www.imarcgroup.com/australia-luxury-goods-market/requestsample
Australia Luxury Goods Market Growth Factors
High-net-worth individuals' (HNWIs') increased discretionary spending has been a key driver for the luxury market's growth in Australia. The Australian HNWI population continues to rise toward creating demand for designer clothing, watches, jewelry, and luxury cars among the HNWIs in Australia. For Australian HNWIs, luxury products are not just possessions, but assets that reflect the lifestyle affinities of their owners, and wealth is generally linked to consumption that is more about exclusivity and quality over display. It signified a more advanced orientation towards consumption amongst the affluent Australian populace.
International tourists, particularly from Asian markets such as China, are a meaningful driver of Australian luxury expenditure. Short term visitor arrivals in June 2024 increased by 8.4%, with many being affluent brand loyalists. Australia is an attractive shopping destination for tourists because of its proximity to Asia, favorable currency exchange rates, tax refunds, quality perceptions, and many high-end boutiques and luxury retail shopping centers. The Australian government is also actively promoting Australia's tourism industry and luxury shopping, further spurring the development of the luxury market.
As sustainability and ethical consumption are becoming more common among Australian luxury consumers, with 51% of Australians stating that sustainability plays a role in their purchasing decisions, Australian luxury brands are increasingly utilizing sustainably-sourced materials, reducing their carbon footprint, following fair labor practices, and utilizing transparent corporate social responsibility marketing. The young affluent are seeking brands that reflect their values as well as their status, suggesting the appearance of a consumer base that balances exclusivity with social and environmental concerns, expanding the sustainable luxury market.
Australia Luxury Goods Market Segmentation
Product Type:
• Watches and Jewelry
• Perfumes and Cosmetics
• Clothing
• Bags/Purse
• Others
Distribution Channel:
• Offline
• Online
End User:
• Women
• Men
Region:
• Australia Capital Territory & New South Wales
• Victoria & Tasmania
• Queensland
• Northern Territory & Southern Australia
• Western Australia
Key Players
• Treasury Wine Estates (TWE)
• MUSE
• IHG Hotels & Resorts
• Louis Vuitton
• Advent International
• ZIMMERMANN
Recent Development & News
• June 2025: Treasury Wine Estates (TWE) launched a new creative direction for its luxury wine label Wynns under the 'Brutally, Elegant' banner. This rebranding includes refined bottle design and stronger positioning in the luxury wine segment, reinforcing its premium market appeal.
• March 2025: MUSE, an Australia-based tech company, introduced a digital investment platform targeting luxury assets such as rare handbags, fine wines, and luxury watches. The platform, accessible via a mobile app, positions these items as investment-grade collectibles, enhancing market accessibility.
• May 2025: IHG Hotels & Resorts expanded its Luxury & Lifestyle sector presence in Australia through a long-term partnership with Salter Brothers. Notably, Regent Hotels & Resorts will return to Australia, with InterContinental Melbourne transitioning to Regent Melbourne by 2030, marking significant growth in the high-end hospitality domain.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
https://www.imarcgroup.com/request?type=report&id=24663&flag=F
Contact Us
IMARC Group,
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Email: sales@imarcgroup.com,
Tel No: (D) +91 120 433 0800,
United States: +1-201971-6302
About Us
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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