Brazil is emerging as one of the most dynamic markets in the luxury goods sector. According to the second edition of the "New Era of Luxury Market Growth" report, between 2022 and 2024, luxury goods sales in Brazil grew by 26%, with an average annual growth rate of 12%.

As reported by "CNN Brazil," this growth rate far exceeds the global average growth rate of the luxury goods market, which stands at only 3%, primarily influenced by the slowdown in growth in Asian markets, particularly in China.

In Brazil, the sales of fashion and personal items, real estate, and automobiles are leading the way in the three major segments, with each segment generating approximately 21 billion Brazilian reais in sales.

The healthcare industry follows closely with expenditures of around 17.3 billion Brazilian reais, followed by aviation (6.5 billion reais), art and furniture (4.2 billion reais), hotels and experiences (3.8 billion reais), and yachts (2.1 billion reais). The only category showing a decline is high-end beverages (approximately 1 billion reais).

In terms of growth rates, automobiles (+18%), hotels (+16%), healthcare (+15%), and real estate (+13%) are the fastest-growing submarkets.

These figures reflect an increase in investment in high-end cars, larger or more luxurious residences, and a rise in spending on high-value beauty and wellness projects. Influencers on social media have played a significant role in promoting and normalizing such consumption.

In this expanding and experiential landscape, professional companies in Brazil have been striving for competitive advantages. Harife Mello, CEO of Carhaus, stated, "We are expanding direct imports from the United States to ensure that luxury car models can be delivered immediately to Brazil. This swift delivery enhances the customer experience and significantly boosts our revenue."

The survey also delves into the characteristics and motivations of Brazilian luxury goods consumers, indicating that luxury consumption in Brazil is driven by various emotional, social, and symbolic factors.