Public Study B2B Global 2024

The Future of Luxury

AI, sustainability concerns among consumers, and global economic fluctuations are transforming the luxury industry.

How can high-end brands plan ahead to stay ahead? Survey insights from 200 industry professionals point the way forward.

Survey details

  • 2

    weeks of fieldwork

  • 14

    data quality checks for respondents

  • 200

    qualified respondents delivered

  • 10

    countries across 3 continents targeted

Luxury goods trends for 2024

1

Embrace technological advancement

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Technology's global impact is driving change across industries. Consumers now favor brands that blend traditional methods with digital and online shopping experiences throughout their purchase journey.

There’s a rising focus on appealing to new customer demographics, particularly the younger generation, by leveraging technology and personalizing products.
3

Shift to a sustainable mindset

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Sustainability is another core focus of the luxury sector.

The push towards a more environment-friendly approach encourages organizations to prioritize sustainable sourcing, choosing quality suppliers, and manufacturing processes. 
4

Redesign value chains

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Value chain transformation is imminent in the luxury industry. Some practices the industry will see push through include choosing materials that require additional expertise, comparing local versus international operations, and investing in research and development.

Key takeaways for retail brands

  • Leverage tech

    Innovate without compromising authenticity

  • Comply with regulations

    Balance compliance with consumer expectations

  • Think sustainably

    Adopt sustainable practices at every level

  • Value chain changes

    Investing in new materials, local production, and upskilling

Key figures from the survey, generated with help of Potloc’s AI Assistant

41%

of respondents believe that technology will transform customer engagement

36%

of luxury professionals noted that adapting more sustainable manufacturing processes is their #1 challenge

58%

of respondents identified the younger generation as the biggest contributor to the sector’s market resilience

The Potloc advantage

  • Precise sampling

    Potloc’s robust, multi-source sampling engine quickly sourced the right respondents via social media sampling and a vetted partner network.

  • Questionnaire optimization

    Our in-house survey experts helped add and reword questions to ensure comprehensive, high-quality answers and screen respondents entering the survey.

  • Speed to insights

    A dedicated account team helped keep KPMG France’s study on track throughout, from assessing feasibility to reading and interpreting the data.

A blended sampling methodology enabled us to source highly niche respondents, while our human and AI checkpoints for data quality quickly verified respondents in real-time, filtering out over 3600 people who didn’t meet data quality requirements. These processes allowed us to deliver the data 3 days ahead of schedule to the KPMG France team.
Marie Cornet BW
Marie Cornet Insights Team Manager at Potloc
Potloc_FULL_Black

Transform challenges into opportunities and lead the luxury sector into a prosperous future.

An auditing and consulting firm, KPMG France supports public or private organizations in all sectors and sizes on the path to a new, more sustainable, and responsible prosperity. Their multidisciplinary model makes it possible to offer their clients, throughout the territory, all the expertise that meets their needs.
Potloc is the all-in survey platform where the world's leading consulting and private equity firms transform survey questions into strategic revelations. With unrivaled sample quality, AI-powered analysis, and end-to-end research management, we’ve helped 500+ global firms collect dynamic market insights from 343M+ consumers and professionals across industries and geographies. Tailored for high-speed, high-stakes missions, Potloc surfaces competitive data points to drive corporate strategy, due diligence, pre-due diligence, portfolio monitoring, and marketing.

Our team

Alexis Ressy
GLOBAL ACCOUNT MANAGER, KPMG
alexis.ressy@potloc.com

Learn how we can help your brand thrive in the evolving luxury industry.

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