Australia Luxury Goods Market Report and Forecast 2025-2034

Australia Luxury Goods Market Size

The Australia luxury goods market was valued at USD 7.1 billion in 2023. The market is further projected to grow at a CAGR of 3.60% between 2024 and 2032, reaching a value of USD 7.6 billion by 2032.

Key Takeaways

• Australia’s luxury goods market is flourishing, driven by demand for high-end fashion, accessories, and luxury travel experiences.

• Australians allocate a significant portion of their disposable income to luxury items for self-improvement.

• In 2018-2019, the luxury goods industry in Australia comprised 385 businesses, employing 3,581 people.

• Women in Australia typically spend approximately USD 3,600 annually on perfumes and cosmetic products.

The Australia luxury goods market share is experiencing robust growth due to country’s rising GDP per capita, which contributes to increased disposable income among consumers, enabling them to indulge in luxury purchases. Australians are increasingly investing in high-end fashion, accessories, and luxury travel experiences driven by the desire for exclusivity and quality in their purchases. 

Moreover, the growing internet penetration in Australia is anticipated to significantly boost online sales in the luxury goods market by 2024, reflecting the importance of digital accessibility in driving market growth. Additionally, Australia's sizable population with a strong affinity for luxury brands creates a substantial consumer base that attracts brands to tailor their offerings to meet the consumer’s demands. 

The Australia luxury goods market development is dependent on three major end users, women, men, and generation X. Women remain significant consumers of luxury goods, showing a preference for high-end fashion, designer apparel, luxury handbags, and fine jewellery, with brands tailoring their strategies to appeal to their desire for exclusivity and quality. 

On the other hand, men's interest in luxury goods has steadily increased, focusing on luxury watches, premium leather accessories, and high-end grooming products, prompting brands to cater to their evolving tastes. Also, generation X, born between the mid-1960s and early 1980s, represents a lucrative market valuing both timeless classics and modern luxury. Brands are using online platforms, social media, and cutting-edge technologies, such as virtual fitting rooms to engage with this generation to provide personalised experiences and boost market revenue.

Australia Luxury Goods Market Report Snapshots

Australia Luxury Goods Market Size

Australia Luxury Goods Companies