Even if Cettire has still a tiny share of the global luxury...

Even if Cettire has still a tiny share of the global luxury sector, quite interesting to look at the main trends of the sector.
Reminder, Cettire does around 9 % of its sales in Australia, while US is its main market (with 61 % of its sales).
75 % of its gross revenues comes from 3 markets (US, UK and Australia), but it is expanding much faster in the rest of the world (+ 101 % vs + 51 % in its 3 main markets).

The market for personal luxury goods is estimated at 353 bn Euros*.
It has been affected by covid due in particular to travel restrictions during that period.
However, it has recovered fast, as the market in 2021 was 3 % above the level of 2019.
In 2022, it was 26 % above the level of 2019.

Bain estimates that the market increased by 22 % in 2022 (+ 15 % at constant exchange rate).
This growth looks quite remarkable as the market decreased by 1 % in mainland China in 2022. So, it is explained by the growth in Americas (+ 25 %), as well as the strong growth in Asia (ex.Japan and ex.China) which was 43 %.

"the luxury market now appears better equiped to cope with economic turbulence, thanks to a consumer base that is both larger and more concentrated on top customers, who are less sensitive to economic downturn".
"the wealthiest 2 % of global consumers accounted for 40 % of luxury spending in 2022, compared with 35 % in 2009".

"generation Y and generation Z accounted for the entire growth of the global luxury market in 2022".

According to Bain study, online sales in the sector increased by 20 % in 2022 and now represent 75 bn Euros.
"Mono brand websites gained further ground, raising their share to around 45 % of the online segment, up from 43 % in 2021".

* all the figures and quotes below are from Bain study : "Renaissance in uncertainty" (Jan 17, 2023)