Enjoy a 15% discount on all purchases until the 31st of March 2023 using the promo code EOFWEB22 at check out!

Luxury and Fashion Our global industry experts explore the key trends shaping consumer preferences that drive fashion and luxury, using timely insights to stay one step ahead of the latest innovations and business strategies.

Global Briefing: Cars and Luxury Goods: Complements or Substitutes for Share of Consumers’ Wallet?

1/20/2014
Neil King Profile Picture
Neil King Bio
Share:

Automotive and Luxury Goods Global Briefing SampleSlide


Growth in consumer expenditure on the purchase of cars has typically lagged growth in the retail value of luxury goods in mature markets in recent years but the situation is generally reversed in emerging markets. In fact, the retail value sales growth of luxury goods per household between 2004 and 2012 has been outpaced by the per-household development of consumer expenditure on the purchase of motor vehicles in all BRIC markets except India. This trend is largely replicated across emerging markets, albeit with exceptions such as Mexico and South Africa.

Our latest automotive briefing, Cars and Luxury Goods: Complements or Substitutes for Share of Consumers’ Wallet?, compares and contrasts retail sales of luxury goods and consumer expenditure on the purchase of motor vehicles, identifying whether consumers have a greater, lesser or equal propensity to spend on cars or luxury goods in different countries. Subsequently, sales of luxury goods and premium light vehicles are analysed in the context of income developments, mapping the long-term potential for key growth markets. For example, even with measures to stop government officials buying foreign brands, the growth in middle class households in China will underpin premium brand volume sales of two million by 2020 - in line with premium demand in the US. However, the market for luxury goods in the US will still be twice the size of China.

Download a free sample of the global briefing

Purchase the full report here: http://www.euromonitor.com/cars-and-luxury-goods-complements-or-substitutes-for-share-of-consumers-wallet-/report

Interested in more insights? Subscribe to our content

Latest Insights

Luxury and Fashion: What to Expect in 2023?

Fflur Roberts 01 March 2023

100% Optical 2023

Euromonitor International 31 January 2023

Shop Our Reports

Competitor Strategies in Personal Accessories

Personal accessories sales growth slowed in 2022, due to a high inflation environment, continuing COVID-19 restrictions in China, and the impact of the war in…

View Report

IFA 2022 Event Insights

This IFA 2022 Event Insights report unveils important product launches from one of the biggest trade shows for consumer electronics and appliances held annually…

View Report

Wellness as a Key Value Driver in Sportswear

Sportswear continued to outperform the overall industry in 2022, but a more challenging environment over the forecast period calls brands to shift their message…

View Report
Passport Our premier global market research database with detailed data and analysis on industries, companies, economies and consumers. Track existing and future opportunities to support critical decision-making across all functions within your organisation Learn More