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Luxury Retail’s Evolving Landscape

Luxury Retail’s Evolving Landscape

Cognizant
Pages 8 Pages

Luxury Retail’s Evolving Landscape • Cognizant 20-20 Insights Executive Summary The luxury goods market may appear to many as a recession-resistant industry that generates over $1 trillion in revenue, but a closer look at the figures suggests otherwise. Luxury retailers, which were growing 9% annually a year before the recession, saw sales drop on average by more than 13 per- centage points from 2007 to 2009. Meanwhile, luxury manufacturer

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