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The consumer dynamic of tourists in Europe should benefit luxury

The consumer dynamic of tourists in Europe should benefit luxury

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With the return of tourists to Europe since the spring, the consumer frenzy of the latter offers a good quarterly economic outlook for luxury houses. However, the situation in China remains their main dark cloud.

 

Despite rising prices due to inflation, the current turmoil in the stock market and the situation in China, which is becoming more and more gloomy due to the crisis, luxury houses have suffered little from the disruptions of recent months.

 

Indeed, consumer demand for luxury goods has remained and continues to be very solid. And the current strong tourist presence in Europe is expected to boost second quarter sales for luxury groups such as LVMH, Kering and Hermès.

 

In addition, Americans in particular are benefiting most from luxury goods, thanks to the euro’s move below the dollar last week. “American consumers are traveling to Europe like there’s no tomorrow,” said Mario Ortelli of luxury M&A consultancy Ortelli & Co. He predicts that they will boost sales of the sector on the continent.

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Featured photo : © Hermès

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