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The Independent UK

National

Colleen Barry

REVEALED: New study shows global luxury shoppers are spurning high end brands over steep price hikes | Vintage Vibes

Luxury Claudia DArpizio Bain

A luxury retail store stands in Manhattan on July 14, 2025, in New York City - (Spencer Platt/Getty Images)

Sales of personal luxury goods are expected to take a hit again this year as wealthy shoppers rebel against extravagant price hikes and global turmoil shakes confidence.

High-end apparel, footwear and handbag sales are expected to drop 2% to 358 billion euros ($412 billion) from 364 billion euros in 2024, according to a new study by the Bain & Co. consultancy released Thursday.

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