ALTAGAMMA CONSUMER & RETAIL INSIGHT 2023

The ninth edition of the Altagamma Consumer and Retail Insight was held on July 5th in Milan. Higher-spending consumers (about 20 million out of a total of 370 million) continue to show a good appetite for luxury products, with 40% True-Luxury consumers expecting to increase their spend next year.
With a difference, however, between the excellent forecasts for China (+50% spend appetite vs average) and the United States (+40% spend appetite vs average) and the more tepid forecasts for Europe (-40% appetite vs average and less than half of US and China).
After personal luxury goods have returned to pre-pandemic levels, experiential luxury (expected to account for 57% of the total market value in 2023) is also picking up with a higher growth rate than the former. 

Matteo Lunelli, Chairman of Altagamma, underlined that “the high-end consumer has a double figures increasing propensity to spend. The number of points of sale is stable but with a significant increase in size and with the creation of unique experiences that are increasingly personalized and exclusive. Consumer habits, values and omnichannel distribution methods are changing, while new collaborative and consolidation strategies are emerging both downstream and upstream of the supply chain. In this context, Altagamma Foundation reconfirms its strategic priorities: protection of manufacturing, internationalization through dimensional growth, digital and sustainable transformation and, finally, international promotion of Italian excellence".