Luxury: The future is Phygital

«Maybe is the most beautiful word in the dictionary because it allows you to sail to infinity». The President of Altacamma, Matteo Lunelli, opened with a quotation from Leopardi to start the work at the eleventh edition of Consensus Altagamma, in collaboration with Bain & Co, which took place yesterday morning. And he added: «I have never seen negative double-digit numbers but it is an entrepreneur’s duty to navigate even in uncertainty. The pandemic immediately struck the high-range industry on a worldwide scale and will lead to a 20% fall in turnover in 2020, according to Altagamma Consensus. However, the sector will re-start and the long-term trend is still positive with a growth of 2-3% from now to 2025, as the Monitor Altagamma Bain has estimated. The Italian creative industry, equipped with unique manufacturing, creative and entrepreneurial resources, has the right cards for a re-launch and to return to a position of world leadership. There are, however, several priorities: in the short term, the supply chains in difficulty need to be protected; in the medium period, digital transformation, a tourism re-launch – which is strategic for all sectors – and much greater attention to environmental and social sustainability». Consensus Altagamma offers an overall forecast of personal luxury goods consumption in 2020 with estimates – until 2025 – compiled by an in-depth study by some of the sector’s leading analysts. 

Stefania Lazzaroni, General Manager of Altagamma commented: «Consensus Altagamma, with estimates from 22 analysts, foresees a considerable drop in global consumption and a 30% fall in sector company profitability in 2020. A strong positive sign is the performance on retail and wholesale digital channels that show +16% and +12% respectively. Companies’ digital transformation will certainly be strengthened and the crisis will lead to new lifestyles – more sustainable, moderate and aware – whose interpretation will be decisive in re-launching high-range.»