Euromonitor International
- Item successfully added to cart!
  
  Your cart is empty
  
  Check Out View Cart

Strategy Briefing

Global Luxury Goods Overview

55 pages, Mar 2017

US$1,325

Add to cart Pay by invoice

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

About This Report

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

Luxury goods has entered a new phase, where conspicuous consumption is giving way to more meaningful luxury experiences. As consumers reassess their priorities, asking themselves what they truly value, a host of major trends have emerged: from the preference given to luxury experiences over “things”, to sustainable luxury. This report features key insights and the latest trends in luxury goods around the globe in 2016, including the growth of global wealth and its impact on the wider industry.

Files are delivered directly into your account within a few minutes of purchase.

Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

Resilient global growth despite economic headwinds

Luxury goods globally delivered another year of moderate growth in 2016, increasing by 3%, despite weakness in key markets such as China, Russia and Brazil.

US remains the leading market

The US continues to provide robust growth, benefiting from solid post-recession recovery. The slowdown in sales of luxury goods in China is expected to enable the US to remain the world leader though to 2018, highlighting its strategic importance within the global industry.

Luxury redefined

Luxury goods has entered a new phase, in which conspicuous consumption is giving way to more meaningful and authentic luxury experiences. As consumers reassess their priorities and increasingly ask themselves what they truly value, a host of major trends have emerged, including preference being given to luxury experiences over possessions.

New cornerstone of the industry

“New luxury” has been defined as products and services that possess higher levels of quality, taste and aspiration than other goods in the category. The traditional product/service value proposition is no longer adequate for reaching consumers or creating significant differentiation.

Conscious consumption

Changing consumer attitudes towards “sustainable luxury” are opening up a range of growth opportunities. A host of technological, environmental and economic changes are driving demand for more conscious consumption of luxury goods.

Digital innovations continue to change the way luxury consumers engage with brands

Omnichannel strategies are becoming increasingly important, as luxury retailers need to adapt to a new generation of hyperconnected luxury shoppers. Retailers are also seeking ways to integrate existing technology creatively into their bricks-and-mortar stores, connecting them with their online businesses.

Want to find out more about this report?

Request more information

Introduction

Scope

Key findings

Luxury Goods Industry Overview

Industry remains hard-nosed amidst global uncertainty

Sales in excess of USD388 billion, despite economic headwinds

Regional And Country Mix

Swings and roundabouts for regional performances

Developed countries comprise the leading absolute growth markets

Tricky terrain to navigate ahead for luxury brands

A game of musical chairs for the leading luxury goods markets

India is the “true star” of Asia, bucking BRIC market trends

China’s loss is the US’s gain, as it retains its leading position

However, change at the top as China is set to edge ahead of the US

Fast fashion steps on Hong Kong’s luxury shoes

Mexico’s luxury performance weighs heavily on the US economy

Category Highlights

Luxury alcohol the fastest growing alternative asset for investors

China dominates fine wines/champagne and spirits

Luxury wearables throws down the gauntlet

Designer clothing and footwear: Accessible price points drive sales

Luxury “streetwear” gives designer footwear a step-up in growth

Growth in luxury timepieces in freefall

Traditional luxury watches has an uncertain outlook as headwinds strengthen

Luxury goods heavyweights join the luxury experiences trend

Millennials drive luxury wellbeing

High-end personalisation: Luxury wellness to suit you

Industry Drivers

Household wealth changes attitudes and purchasing habits

Quality and craftsmanship to feed consumer loyalty

The growing financial muscle of the world’s super-rich, led by the US

Half global wealth in top 10 wealthiest markets (1)

Half global wealth in top 10 wealthiest markets (2)

Millennials and Gen Z will control 47% of gross income by 2025

India to see the biggest increase in wealthy classes

Global wealth to underwrite luxury lifestyle trends

Fashion houses dine-out on our love of eating

Developed markets compete for share of wallet from wealthy tourists

Wealthy tourists remain lucrative despite shifts in travel flows

Distribution

Luxury specialist retailers continue to dominate distribution

Luxury department stores throw down the gauntlet with gym pop-ups

Leading retailers offer more muscle for the luxury “wellness” trend

The digital surge and innovation

Market drivers in global digital luxury sales

Innovative digital retailing concepts driven by convenience

Innovative digital retailing concepts driven by experience

India has huge digital potential

Meet the interconnected luxury consumers of today…

…and of tomorrow

The most populous cohorts across the globe

The UK leads the digital consumer index, but the US will do better

The four expected leaders in the forecast Digital Consumer Index

Report Definitions

Report definition and abbreviations

Why buy this report?

Want to find out more about this report?

Request more information

Megatrends

Strategy Briefing

Global Luxury Goods Overview

New Report Guarantee

About This Report

New Report Guarantee

Overview

Why buy this report?

Resilient global growth despite economic headwinds

US remains the leading market

Luxury redefined

New cornerstone of the industry

Conscious consumption

Digital innovations continue to change the way luxury consumers engage with brands

Want to find out more about this report?

Table of Contents

Introduction

Scope

Key findings

Luxury Goods Industry Overview

Industry remains hard-nosed amidst global uncertainty

Sales in excess of USD388 billion, despite economic headwinds

Regional And Country Mix

Swings and roundabouts for regional performances

Developed countries comprise the leading absolute growth markets

Tricky terrain to navigate ahead for luxury brands

A game of musical chairs for the leading luxury goods markets

India is the “true star” of Asia, bucking BRIC market trends

China’s loss is the US’s gain, as it retains its leading position

However, change at the top as China is set to edge ahead of the US

Fast fashion steps on Hong Kong’s luxury shoes

Mexico’s luxury performance weighs heavily on the US economy

Category Highlights

Luxury alcohol the fastest growing alternative asset for investors

China dominates fine wines/champagne and spirits

Luxury wearables throws down the gauntlet

Designer clothing and footwear: Accessible price points drive sales

Luxury “streetwear” gives designer footwear a step-up in growth

Growth in luxury timepieces in freefall

Traditional luxury watches has an uncertain outlook as headwinds strengthen

Luxury goods heavyweights join the luxury experiences trend

Millennials drive luxury wellbeing

High-end personalisation: Luxury wellness to suit you

Industry Drivers

Household wealth changes attitudes and purchasing habits

Quality and craftsmanship to feed consumer loyalty

The growing financial muscle of the world’s super-rich, led by the US

Half global wealth in top 10 wealthiest markets (1)

Half global wealth in top 10 wealthiest markets (2)

Millennials and Gen Z will control 47% of gross income by 2025

India to see the biggest increase in wealthy classes

Global wealth to underwrite luxury lifestyle trends

Fashion houses dine-out on our love of eating

Developed markets compete for share of wallet from wealthy tourists

Wealthy tourists remain lucrative despite shifts in travel flows

Distribution

Luxury specialist retailers continue to dominate distribution

Luxury department stores throw down the gauntlet with gym pop-ups

Leading retailers offer more muscle for the luxury “wellness” trend

The digital surge and innovation

Market drivers in global digital luxury sales

Innovative digital retailing concepts driven by convenience

Innovative digital retailing concepts driven by experience

India has huge digital potential

Meet the interconnected luxury consumers of today…

…and of tomorrow

The most populous cohorts across the globe

The UK leads the digital consumer index, but the US will do better

The four expected leaders in the forecast Digital Consumer Index

Report Definitions

Report definition and abbreviations

Why buy this report?

Want to find out more about this report?

Recently Viewed

Complete Catalogue

Strategy Reports

Country Reports

Recently Viewed

Complete Catalogue

Strategy Reports