{"id":26633,"date":"2024-06-25T15:30:05","date_gmt":"2024-06-25T10:00:05","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=26633"},"modified":"2024-06-25T15:30:05","modified_gmt":"2024-06-25T10:00:05","slug":"jewellery-shines-amid-luxury-market-turbulence-bain","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/jewellery-shines-amid-luxury-market-turbulence-bain\/","title":{"rendered":"Jewellery Shines Amid Luxury Market Turbulence: Bain"},"content":{"rendered":"<p>Despite economic and geopolitical challenges, the global luxury market reached a record \u20ac1.5 trillion in 2023, driven by a resurgence in luxury travel and a strong US holiday season. However, the first quarter of 2024 experienced a slowdown due to macroeconomic pressures, with Japan being a notable exception thanks to a tourism boom. These insights come from the latest Bain &amp; Company <em>Luxury Goods Worldwide Market Study<\/em>, released in collaboration with Altagamma, the Italian luxury goods manufacturers\u2019 association.<\/p>\n<p>Jewellery emerged as a top performer in this complex landscape, with investment-led purchases driving growth beyond that of watches. The sector\u2019s strength spans both ultra-luxury and entry-level segments, appealing to a broad spectrum of consumers.<\/p>\n<p>China\u2019s market is under pressure due to two primary factors: the revival of outbound tourism and weakening local demand caused by rising economic uncertainties. The latter is undermining middle-class consumer confidence, leading to \u201cluxury shame\u201d behaviour similar to what occurred in the Americas during the 2008-09 financial crisis. Likewise, the US continues to face with macroeconomic pressures despite signs of gradual improvement in GDP and consumer confidence.<\/p>\n<p>While Europe and Japan have shown resilience due to tourism, China\u2019s market is under pressure from revived outbound tourism and weakening local demand. In the US, macroeconomic challenges persist despite some signs of recovery.<\/p>\n<p>The study also notes a dichotomous consumer strategy: Gen Z is delaying luxury spending due to economic uncertainties, while Gen X and Baby Boomers are increasing their expenditures. Luxury brands are focusing on top clients through large-scale events and expanding into new areas like sports, with the 2024 Paris Olympics serving as a key platform.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite economic and geopolitical challenges, the global luxury market reached a record \u20ac1.5 trillion in 2023, driven by a resurgence in luxury travel and a strong US holiday season. However, the first quarter of 2024 experienced a slowdown due to macroeconomic pressures, with Japan being a notable exception thanks to a tourism boom. These insights&hellip;<\/p>\n","protected":false},"author":1,"featured_media":26634,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-26633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Jewellery Shines Amid Luxury Market Turbulence: Bain - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/jewellery-shines-amid-luxury-market-turbulence-bain\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jewellery Shines Amid Luxury Market Turbulence: Bain - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"Despite economic and geopolitical challenges, the global luxury market reached a record \u20ac1.5 trillion in 2023, driven by a resurgence in luxury travel and a strong US holiday season. However, the first quarter of 2024 experienced a slowdown due to macroeconomic pressures, with Japan being a notable exception thanks to a tourism boom. These insights&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gjepc.org\/solitaire\/jewellery-shines-amid-luxury-market-turbulence-bain\/\" \/>\n<meta property=\"og:site_name\" content=\"Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-25T10:00:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/gjepc.org\/solitaire\/wp-content\/uploads\/2024\/06\/Bain.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/#website\",\"url\":\"https:\/\/gjepc.org\/solitaire\/\",\"name\":\"Solitaire magazine is a International jewellery magazine - India\\u2019s leading B2B gem and jewellery magazine\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/gjepc.org\/solitaire\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/jewellery-shines-amid-luxury-market-turbulence-bain\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/gjepc.org\/solitaire\/wp-content\/uploads\/2024\/06\/Bain.png\",\"width\":1000,\"height\":600,\"caption\":\"jewellery magazine\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/jewellery-shines-amid-luxury-market-turbulence-bain\/#webpage\",\"url\":\"https:\/\/gjepc.org\/solitaire\/jewellery-shines-amid-luxury-market-turbulence-bain\/\",\"name\":\"Jewellery Shines Amid Luxury Market Turbulence: Bain - Solitaire magazine is a International jewellery magazine - India\\u2019s leading B2B gem and jewellery magazine\",\"isPartOf\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/jewellery-shines-amid-luxury-market-turbulence-bain\/#primaryimage\"},\"datePublished\":\"2024-06-25T10:00:05+00:00\",\"dateModified\":\"2024-06-25T10:00:05+00:00\",\"author\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/#\/schema\/person\/b614a6d604f6c36c387b4c876bb33d79\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/gjepc.org\/solitaire\/jewellery-shines-amid-luxury-market-turbulence-bain\/\"]}]},{\"@type\":[\"Person\"],\"@id\":\"https:\/\/gjepc.org\/solitaire\/#\/schema\/person\/b614a6d604f6c36c387b4c876bb33d79\",\"name\":\"GJEPC\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f6c5b479a8ec14da0f88385e2b6cd51ccb37ac80c31409ecaebe5524700952a2?s=96&d=mm&r=g\",\"caption\":\"GJEPC\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/26633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/comments?post=26633"}],"version-history":[{"count":1,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/26633\/revisions"}],"predecessor-version":[{"id":26635,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/26633\/revisions\/26635"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/media\/26634"}],"wp:attachment":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/media?parent=26633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/categories?post=26633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/tags?post=26633"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/thb-sponsors?post=26633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}