INSUBCONTINENT EXCLUSIVE:
wealthy fuel a rare expansion
This growth contrasts sharply with slowdowns in the U.S., Europe, and China, where economic uncertainty dims sales.The figures tell a clear
High-income consumers jumped from 730,000 in 2014 to 1.3 million in 2022, their wealth doubling to $720 billion.Experts attribute this surge
to concentrated income growth and a strong dollar, curbing overseas shopping and boosting local purchases
Global Downturn with Steady Growth
(Photo Internet reproduction)Sales data backs the trend: luxury goods grew 12% in 2023, per MCF Consultoria, with high-end real estate
Market Amid Global DeclineExecutives highlight a post-pandemic shift, with Brazilians now buying luxury at home
They are drawn by personalized service and narrower price gaps with the U.S
and Europe.Meanwhile, the global luxury scene weakens, losing 50 million consumers since 2022, leaving 350 million buyers
positions Brazil and Latin America as key players, potentially adding 50 million emerging luxury consumers by 2030
and the desire for status still flourish
