Boston Consulting Group news and archive

Vestiaire Collective report: Second-hand market grows three times faster than new goods

According to a new study by the resale platform Vestiaire Collective and the Boston Consulting Group (BCG), second-hand fashion and vintage luxury products are projected to reach a market volume of up to 360 billion dollars by 2030, compared to the current 210 to 220 billion dollars. This represents an annual growth of 10 percent, a rate three...

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Business

Altagamma: future of luxury between top-tier, aspirational clients and high-potential countries like India and Thailand

Milan - Multi-brand retailers are facing a crisis. This is particularly true for those focused on clothing and leather goods, but not those in beauty and watches and necessitates an ever-closer relationship with customers. The luxury sector is experiencing a period of stagnant growth. There is also disaffection among aspirational consumers. This...

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Fashion

Sustainability progress “has slowed” reveals new data

According to new data from the Global Fashion Agenda (GFA), Boston Consulting Group (BCG) and Sustainable Apparel Coalition (SAC), the pace of sustainability progress in the fashion industry has “slowed” by a third in the past year and is not moving “fast enough to counterbalance the harmful impact of the fashion industry's rapid growth”. The...

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Retail

Fashion brands must improve digital marketing as online shopping grows

Consumers are growing more and more accustomed to buying clothes online, so much so that the share of e-commerce sales is set to grow from 20 percent today to 25 percent by 2020, according to a joint study by international marketplace Zalando and consultancy firm Boston Consulting Group (BCG). In this scenario, it is crucial for fashion brands...

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Retail

Half of global luxury shoppers buy at discount

Half of global luxury shoppers are partial to a bargain. According to the YouGov Affluent Perspective’s Global Luxury Retail Report 2018, half of all global luxury shoppers state they “only buy luxury when it is discounted.” The report, which focuses on the 56 percent of global affluents shoppers who purchase luxury products and services across...

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Business|STUDY

Luxury brands must become digital or risk ‘dying out’

London - Luxury brands which fail to evolve their digital front risk getting left behind as digital is the "inevitable, inescapable business shift of the future." Although some companies, such as LVMH, are beginning to invest in the digital domain, being digital means so much more than just ecommerce, and luxury labels who refuse to do so will...