Global Luxury Goods Trends Report

Headline growth remains disappointing                

The global luxury goods industry looks set to continue to rise only slowly, with headline growth remaining disappointing as the industry faces mounting risks

Divergence in key luxury markets            

While the global industry is unlikely to witness stellar growth, there will be some tailwinds, with markets such as Mexico and India in much stronger positions.

India diamond in the rough        

India is fast becoming one of the world’s major economic growth engines, with a rapidly growing population that is eager to spend. However, India still has major challenges to overcome to be a full-fledged luxury retail market

Hong Kong crisis              

Once a lynchpin of growth, Hong Kong is forecast to be one of the luxury industry’s weakest performing market to 2020. A regional power shift in Asia is pushing shoppers and retailers to seek alternative growth hubs and luxury shopping destinations.

Luxury wearables on the horizon             

By 2020, global sales of wearable electronics are forecast to be higher than luxury watches in value terms. The category is emerging as a pivotal battleground for affordable and mid-priced global brands.

A search for more meaningful luxury     

The luxury goods industry has entered a new phase, where conspicuous consumption is giving way to more meaningful luxury experiences. Luxury brands and retailers have been seeking ways to expand their portfolios driving up investment in “luxury experiences” and “lifestyle branding”.

Luxury gets “phygital”   

As competition within luxury goods brands intensifies, retailers are embracing new technology as a means to differentiate themselves and to enhance the shopping experience. As physical and digital shopping start to merge, retailers will increasingly be bringing internet functionality into their stores.