Luxury brand executives must be breathing a sigh of relief after reading last week's headlines from Bain & Company that the luxury goods market is predicted to grow 2-4% in 2017. The only dark cloud on the horizon anticipated in the report is the U.S. market:Still the largest market for personal luxury goods, the U.S. is facing a combination of factors which hamper growth. Being the world’s largest market for luxury, a fall off in luxury goods consumption in the U.S. could mean a tsunami-sized hit to the luxury market. That “perfect storm for luxury brands” predicted for the U.S. market could sink an awful lot of ships! Demographic shifts should power a U.S. luxury market boomGiven demographic shifts in the U.S. consumer market, we should be experiencing a luxury boom, not a bust.

Source: Forbes June 05, 2017 10:52 UTC