Mexico is the largest luxury market in Latin America

Globally, it is ranked 20th among the 32 luxury markets.

By Valeria Bigurra Thursday, June 21, 2018 comments

Mexico once again positioned itself as the largest luxury products market in Latin America, with sales of more than 7 billion dollars in 2017, and projections of a 32 percent growth in sales by 2022.

This information was publicised during the event “Luxury products in a world driven by emotions”, organized by Luxury Lab Mexico. Here it was stressed that ethics, health, the search for better shopping experiences and development of the connected consumer are some of the trends that drive changes in the values ​​and priorities of luxury consumers in Mexico.

Flur Roberts, responsible for Research of the Luxury Industry at Euromonitor International, said that now it is observed that the ethical lifestyle is gaining strength in the country and in the world, so many luxury companies chose to join charities, as part of their strategy.

21907Mercado_de_lujo© Euromonitor International

In addition, the concept of green beauty is becoming popular and has even become a decisive factor in the purchasing process, as many consumers in Mexico, Latin America and the world in general pay a higher price for products that are natural and organic.