The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreApr 2016
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The global luxury goods industry in 2016 looks set to continue to rise only slowly, with headline growth remaining disappointing. The industry will face mounting risks this year with slowdowns in key emerging markets. At the same time, luxury brands and retailers will continue to seek ways to expand their portfolios driving up investment in “luxury experiences” and “lifestyle branding” as well as harnessing social media and tapping into the psyche of the new digital consumer.
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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.
The global luxury goods industry looks set to continue to rise only slowly, with headline growth remaining disappointing as the industry faces mounting risks
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 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
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.
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.
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”.
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.
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.