Consumption is picking up and sales of luxury goods in Europe are skyrocketing!

Here comes the opportunity for sellers! According to the latest statistics, online sales of luxury goods in Europe have increased significantly, which shows that the consumption level of Europeans has improved, and sellers' sales will also improve.

Under the epidemic, the global economy has been affected to a certain extent, people's consumption levels have also declined, the demand for high-priced products has decreased, and even government intervention has to be used to stimulate consumption. Under this general environment, the second-hand market has also ushered in a wave of booms in the past two years.

However, as the epidemic is gradually brought under control, people's consumption levels have slowly increased. Recently, sales of luxury goods in Europe have begun to soar, represented by luxury clothing and luggage, and have maintained steady growth.

Data shows that sales of European luxury clothing increased by 69% year-on-year in the first quarter of this year and 43% year-on-year in the second quarter, making it the fastest and most stable growing category in the first half of 2021.

Take the famous luxury brand LV for example. Officials said that sales in the first half of this year increased by 56% year-on-year to 28.7 billion euros, and overall revenue was even 11% higher than in 2019 before the outbreak. Officials also said that the European market is in a state of recovery and is positive about sales in the second half of the year.

Among them, Spain is the most "beauty-loving" country, with the highest average expenditure on perfume and cosmetics in the EU. In particular, sales of home beauty devices have increased significantly. According to experts' predictions, the market demand for high-tech beauty devices will continue to rise.

The reason for this is largely due to the gradual lifting of the epidemic, which has caused people's long-suppressed shopping desire to burst out all of a sudden, which is equivalent to a kind of celebratory consumption. More importantly, with the opening of offline activities, people naturally need to dress up when going out, and clothes and bags are indispensable, so the recovery of sales is also a general trend. In addition, the sales of other shoes and jewelry are also slowly warming up.

The recovery of consumption indicates that Europeans' purchasing power is also slowly recovering. Sellers in the European market can adjust their layout based on this signal. Moreover, according to the latest forecast, by the end of 2021, the number of European e-commerce users will exceed 500 million, sales will exceed 700 billion euros, and the online shopping penetration rate will reach 60%. There will be more opportunities for sellers, and they can seize this business opportunity.

Europe

Luxury

Market recovery