JLL reveals luxury retail sales reach more than $75b in 2023

Luxury retail remains resilient despite economic uncertainty, according to JLL’s 2024 Luxury Retail Report, which shows key performance trends and predictions for the industry, including consumer spending outlook, top markets for leasing activity, how limited supply is impacting growth, new opportunities for expansion in malls, and reinvestments for in-store experiences.

JLL reveals luxury retail had sales reaching more than $75 billion in 2023 and poised to surpass $82 billion by the end of 2028. With the supply of desirable retail locations continuing to be exceeded by demand, however,