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There’s a new TikTok trend changing the face of Australia’s Luxury retail market. Celebrities and influencers on the platform are driving Millennial and Gen Z consumers to wield their purchasing power and spend up big on luxury items. New CBRE research shows this appetite for high-quality goods was a key influence behind luxury retail trade reaching a record $6.2 billion in 2023 and top-tier brands expanding flagship stores across Australia’s major cities. CBRE’s head of Retail Property Management & Leasing – Pacific Sheree Griff said, “The luxury market's dynamic nature and shifting consumer preferences present exciting opportunities for growth and innovation in Australia.” Find out what else is driving growth in Australia’s luxury retail market: https://cbre.co/3WoUYAC The report also features insights from Charlotte Fordyce, Darcy Badgery, Sameer Chopra, Kate Bailey, Leif Olson, Jason Orenbuch MBA, Andrew Woodgate, Fred Clohessy, Julia Pottenger.