The new trends in the luxury market in the 21st century

• Authors: Bochańczyk-Kupka Dominika

Title variants

PL

Nowe trendy na rynku dóbr luksusowych w XXI wieku

• Languages of publication: EN

Abstracts

EN

The main aim of this article is to present and analyse changes in the global luxury goods market in the 21st century, with particular emphasis on the effects of the supply shock caused by the COVID-19 pandemic. In the part devoted to the period before the pandemic, the following market trends will be described: the democratisation of luxury, brand consolidation process, the emergence of Generation Alpha, the evolution of masstige goods relied on fast-fashion processes, "Chinese bulimia", market ”retailization” processes, the growing importance of mono-brand stores, rejection of online sales by European brands, e-commerce development, and growing environmental awareness. The article’s part, dedicated to the period of the pandemic and the changes immediately after it, presents trends such as the emergence of non-fungible tokens (NFTs) and gaming goods (metaverse gaming), the rebirth of the vintage market and secondhand stores, an increase in sales of casual goods, new multi-brand sales platforms, and the growing importance of local markets. The article is based on literature query and comparative analysis of industry reports prepared by Deloitte, Bain Company, and Luxe Digital.

PL

Celem artykułu jest przedstawienie i analiza zmian na światowym rynku dóbr luksusowych mających miejsce w XXI wieku, ze szczególnym uwzględnieniem skutków szoku podażowego wywołanego pandemią COVID-19. W części poświęconej okresowi przed pandemią COVID-19 zostały omówione takie trendy rynkowe jak: demokratyzacja luksusu, proces konsolidacji marek, pojawienie się kolejnych generacji klientów (ang. Generation Alpha), zaistnienie masowych dóbr luksusowych (ang. masstige) wraz z procesami fast-fashion, "chińska bulimia", "retailizacja" rynku i wzrost znaczenia sklepów monobrandowych, odrzucenie przez marki europejskie sprzedaży internetowej, wzrost znaczenia e-commerce oraz rosnąca świadomość ochrony środowiska. W części artykułu poświęconej okresowi pandemii i zmianom bezpośrednio po niej przedstawiono takie trendy jak: pojawienie się niewymiennych tokenów (NFTs) i towarów do gier (ang. metaverse gaming), odrodzenie się rynku vintage i sklepów z dobrami używanymi, wzrost sprzedaży dóbr typu casual, powstanie wielobrandowych platform sprzedażowych oraz wzrost znaczenia rynków lokalnych. Artykuł powstał na podstawie przeprowadzonej kwerendy literatury oraz przy wykorzystaniu analizy porównawczej raportów branżowych, przygotowanych przez firmy Deloitte, Bain Company oraz Luxe Digital.

Keywords

EN

luxury; luxury market; Covid-19; market analysis

PL

luksus; rynek dóbr luksusowych; Covid-19; analiza rynku

• Publisher: Wydział Nauk Politycznych i Studiów Międzynarodowych, Uniwersytet Warszawski
• Journal: Przegląd Europejski
• Year: 2022
• Issue: 4(66)
• Pages: 109-122

Dates

published

2022

Contributors

author

Bochańczyk-Kupka Dominika

• University of Economics in Katowice

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