Well-heeled shoppers speeding up shift from products to experiences in the global luxury market; yearly sales of deluxe experiences, from art auctions to spas to safaris, are growing 50% faster than sales of high-end goods.

The shift from owning a luxury to experiencing a luxury is accelerating—and many providers of high-end goods such as watches and handbags may soon miss out on a huge growth opportunity if they don’t get smart about their customers’ new inclinations.

That’s one of the key findings in Luxe Redux: Raising the Bar for Selling of Luxuries, the latest report on global luxury markets from The Boston Consulting Group (BCG.)

A copy of the report can be downloaded at:

www.bcgperspectives.com