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Luxury Goods in Canada

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    Report

  • 44 Pages
  • October 2023
  • Region: Canada
  • Euromonitor International
  • ID: 2398416
Retail value sales of luxury goods in Canada are set to rise by 7% in 2023 in current terms to total CAD30.7 billion. There is a clear focus on recovery post-lockdown, with luxury shoppers keen to indulge in activities that may have been off limits during the pandemic. Sales in the latter part of the review period benefited from affluent consumers starting to socialise again as well as returning to more normalised travel activities and shopping behaviours.

The Luxury Goods in Canada report offers a comprehensive guide to the size and shape of the Luxury Goods market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market and their effects on Luxury Goods retailing along with the development of consumers’ shopping patterns. Forecasts to 2027 illustrate how the market is set to change

Product coverage: Experiential Luxury, Fine Wines/Champagne and Spirits, Personal Luxury, Premium and Luxury Cars.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

  • Get a detailed picture of the Luxury Goods market
  • Pinpoint growth sectors and identify factors driving change
  • Understand the competitive environment, the market’s major players and leading brands
  • Use five-year forecasts to assess how the market is predicted to develop.

Table of Contents

LUXURY GOODS IN CANADA
EXECUTIVE SUMMARY
  • Luxury goods in 2023: The big picture
  • 2023 key trends
  • Competitive landscape
  • Retailing developments
  • What next for luxury goods?
MARKET DATA
  • Table 1 Sales of Luxury Goods by Category: Value 2018-2023
  • Table 2 Sales of Luxury Goods by Category: % Value Growth 2018-2023
  • Table 3 Inbound Receipts for Luxury Goods by Country of Origin: Value 2018-2023
  • Table 4 NBO Company Shares of Luxury Goods: % Value 2018-2023
  • Table 5 LBN Brand Shares of Luxury Goods: % Value 2019-2023
  • Table 6 Distribution of Luxury Goods by Format and Category: % Value 2023
  • Table 7 Forecast Sales of Luxury Goods by Category: Value 2023-2028
  • Table 8 Forecast Sales of Luxury Goods by Category: % Value Growth 2023-2028
DISCLAIMER
SOURCES
  • Summary 1 Research Sources
EXPERIENTIAL LUXURY IN CANADAKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Experiential luxury on the rise in 2023
  • Luxury hotels thriving in 2023
  • Fairmont Resort Properties Ltd holds the lead in experiential luxury in 2022
PROSPECTS AND OPPORTUNITIES
  • Retail value sales increase expected over 2023-2028
  • Luxury hotels looks likely to see the best performance over the forecast period
  • Rising costs and labour shortages could remain a threat to growth
CATEGORY DATA
  • Table 9 Sales of Experiential Luxury by Category: Value 2018-2023
  • Table 10 Sales of Experiential Luxury by Category: % Value Growth 2018-2023
  • Table 11 NBO Company Shares of Experiential Luxury: % Value 2018-2023
  • Table 12 LBN Brand Shares of Experiential Luxury: % Value 2019-2022
  • Table 13 Forecast Sales of Experiential Luxury by Category: Value 2023-2028
  • Table 14 Forecast Sales of Experiential Luxury by Category: % Value Growth 2023-2028
FINE WINES/CHAMPAGNE AND SPIRITS IN CANADAKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Fine wines/champagne and spirits sees rising current retail value sales in 2023
  • Fine wines is the largest subcategory in terms of value sales in the last year of the review period
  • Fine wines/champagne and spirits is led by Corby Spirit & Wine Ltd in 2022
PROSPECTS AND OPPORTUNITIES
  • Fine wines/Champagne and spirits set to see steady growth over the forecast period supported by rise of e-commerce
  • More consumers expected to enjoy other fine wine and luxury spirits at home rather than pay the high prices charged in on-trade outlets
  • Fine Champagne set to be the most dynamic category but younger generations present new challenges to the industry
CATEGORY DATA
  • Table 15 Sales of Fine Wines/Champagne and Spirits by Category: Value 2018-2023
  • Table 16 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2018-2023
  • Table 17 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2018-2022
  • Table 18 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2018-2023
  • Table 19 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2023-2028
  • Table 20 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2023-2028
PREMIUM AND LUXURY CARS IN CANADAKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Premium and luxury cars sees rising current retail value sales in 2023
  • Number of premium and luxury cars on the rise, while car dealerships embrace the digital world
  • Premium and luxury cars is led by Tesla Inc in 2022 with consumers and manufacturers focusing on electric vehicles
PROSPECTS AND OPPORTUNITIES
  • Value sales of premium and luxury cars forecast to rise over 2023-2028
  • The internet could become a more significant sales tool over the forecast period
  • Canadians set to go electric as the government pushes forward manufacturing reforms
CATEGORY DATA
  • Table 21 Sales of Premium and Luxury Cars: Value 2018-2023
  • Table 22 Sales of Premium and Luxury Cars: % Value Growth 2018-2023
  • Table 23 NBO Company Shares of Premium and Luxury Cars: % Value 2018-2022
  • Table 24 LBN Brand Shares of Premium and Luxury Cars: % Value 2019-2022
  • Table 25 Forecast Sales of Premium and Luxury Cars: Value 2023-2028
  • Table 26 Forecast Sales of Premium and Luxury Cars: % Value Growth 2023-2028
PERSONAL LUXURY IN CANADAKEY DATA FINDINGS
2023 DEVELOPMENTS
  • Personal luxury benefiting from a post-pandemic sales boom in 2023
  • Designer apparel (ready-to-wear) dominates designer apparel and footwear (ready-to-wear)
  • Luxury eyewear comes back into focus as restrictions are lifted
  • Luxury jewellery sales benefit from self-gifting and the return of important events in 2023
  • Luxury leather goods see rising demand in 2023 as consumers resume their travel plans
  • Luxury wearables electronics sees strong innovation
  • Luxury timepieces benefiting from strong investment value
  • Value sales of writing instruments and stationery on the rise in 2023
  • Value sales of super premium beauty and personal care on the rise
  • Michael Kors Canada Holdings Ltd holds the lead in personal luxury in 2022
PROSPECTS AND OPPORTUNITIES
  • Positive outlook despite prevailing economic uncertainty
  • The return to normality set to help fuel demand for designer apparel and footwear (ready-to-wear) and super premium beauty and personal care
  • Luxury leather goods is expected to see the most dynamic percentage growth over forecast period
CATEGORY DATA
  • Table 27 Sales of Personal Luxury by Category: Value 2018-2023
  • Table 28 Sales of Personal Luxury by Category: % Value Growth 2018-2023
  • Table 29 NBO Company Shares of Personal Luxury: % Value 2018-2023
  • Table 30 LBN Brand Shares of Personal Luxury: % Value 2019-2023
  • Table 31 Distribution of Personal Luxury by Format: % Value 2018-2023
  • Table 32 Forecast Sales of Personal Luxury by Category: Value 2023-2028
  • Table 33 Forecast Sales of Personal Luxury by Category: % Value Growth 2023-2028