1、 499June 2023RXSLXEU23RPEurope LuxuryRetailXIn partnership with:20232|RetailX|June 2023RXSLXEU23RP 2023 SUSTAINABILITY REPORT|INTRODUCTIONEUROPEAN LUXURY REPORT 2023|INTRODUCTIONUnlike with many sectors,the pandemic didnt boost online sales in the European luxury sector.In fact,it took until 2022 fo

2、r the sector to claw its way back to revenues close to its 2019 high.However,the sector has since managed embraced technology and is becoming an outlier for the role of tech in omnichannel,cross-border retail.Heres what we foundKEY FINDINGS The European fashion sector was worth 83.9bn in 2022,up sig

3、nificantly on 2021s 79.4bn and slowly getting back on track to where it was pre-pandemic.The European luxury sector is still highly reliant on physical retail,with as much as 80%of 2022 sales taking place instore.This belies the role that online and mobile are playing in the shopping journey.Accordi

4、ng to the RetailX consumer survey,shoppers are equally browsing online and instore(53.96%and 54.47%respectively),with 38.26%shopping on mobile devices and 11%using tablets.Recovery in 2023 has been hampered by high inflation in Europe.This impacts domestic luxury sales and is a drag on sales in Chin

5、a and the US.Inflation is affecting the behaviour of domestic consumers.Research by RetailX finds that 55.8%of Europes shoppers see discounts and reduced price as very important when shopping luxury online.IntroductionContentsMarket context 03Consumer behaviour 05Consumer channels 08Consumers and th

6、e metaverse 09Sustainability 11Partner perspective 14The Largest 50 15PROFILE FarFetch 18PROFILE Fendi 19PROFILE Lancme 20PROFILE Louis Vuitton 22PROFILE Pandora 24PROFILE Ray-Ban 26PROFILE Tommy Hilfiger 28PROFILE TAG Heuer 30PROFILE Vivienne Westwood 31The road ahead 32Figures 36End matter 37Knowl