Here are 3 big luxury retail trends for 2023, according to experts

Dec 31 2022 by Business Insider

 
Chanel is one of the brands that experts say will remain strong next year.

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Luxury resale will boom in 2023 as more brands take control of their second-hand markets. The 1% will continue to buy luxury goods, but other classes may pull back. The personal luxury market is expected to grow 3%-8% over the next year, according to Bain & Company.

Last year, about half of all adults between the ages of 18-29 were living at home, according to data from the US Census...

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