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Country Report

Luxury Goods in

Luxury Goods in Mexico

62 pages, Feb 2018

US$1,210

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Executive Summary

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

Mexico represents an attractive market for luxury goods manufacturers

Despite challenging economic circumstances, manufacturers of luxury brands focus their efforts on Mexico, and it is considered the most favourable country for this in Latin America. Experiential categories such as luxury cars showed strong growth driven by financial plans available to middle-income consumers, such as interest-free payments or leasing.

Luxury consumer base continues to grow

The number of Mexicans with access to luxury goods will continue to grow in the coming years. Currently, Mexico is in ninth position regarding the number of millionaires in the country and the Global Wealth Report of Credit Suisse estimates that this number will increase 68% by 2020.

Key iconic brands maintain a solid performance

In general, Mexicans are known to prefer branded products, and this especially applies to luxury items. Emblematic brands such as Ralph Lauren, Hugo Boss, Giorgio Armani or Louis Vuitton hold a strong position in the country.

Luxury players strengthen their brands’ retail presence in Mexico

Luxury players cemented their brand presence in Mexico, mostly through flagship stores in Mexico City. Santa Fe Mall, Masaryk Street and Palacio de Hierro in Polanco are the hubs of luxury in Mexico where you can find luxury brands from cars to apparel and jewellery.

Experiential luxury goods will continue to drive growth

Key brands will experience sales growth mostly from middle-income consumers, while wealthy Mexicans will turn to more exclusive alternatives. As consumers continue to seek experiences rather than just physical products, categories and brands that fulfil their expectations will benefit and record a better performance.

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Luxury Goods Sample Report Luxury Goods Sample Data

Overview

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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.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Luxury Goods industry in Mexico with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Luxury Goods industry in Mexico, our research will save you time and money while empowering you to make informed, profitable decisions.

The Luxury Goods in Mexico market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Luxury Goods in Mexico?
What are the major brands in Mexico?
How dynamic is the growth of Luxury Goods internet sales?
What is driving growth?

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 function

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Luxury Goods in Mexico

EXECUTIVE SUMMARY

Mexico represents an attractive market for luxury goods manufacturers

Luxury consumer base continues to grow

Key iconic brands maintain a solid performance

Luxury players strengthen their brands’ retail presence in Mexico

Experiential luxury goods will continue to drive growth

MARKET INDICATORS

Table 1 Number of High Net Worth Individuals (HNWI): 2012-2017

MARKET DATA

Table 2 Sales of Luxury Goods by Category: Value 2012-2017
Table 3 Sales of Luxury Goods by Category: % Value Growth 2012-2017
Table 4 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2017
Table 5 NBO Company Shares of Luxury Goods: % Value 2012-2016
Table 6 LBN Brand Shares of Luxury Goods: % Value 2013-2016
Table 7 Distribution of Luxury Goods by Format and Category: % Value 2017
Table 8 Forecast Sales of Luxury Goods by Category: Value 2017-2022
Table 9 Forecast Sales of Luxury Goods by Category: % Value Growth 2017-2022

SOURCES

Summary 1 Research Sources

Designer Apparel and Footwear (Ready-To-Wear) in Mexico

HEADLINES

PROSPECTS

Sales grow on the back of middle-class access to luxury goods

Local purchases continue to grow

Managing influencers will become an essential part of the media strategy

COMPETITIVE LANDSCAPE

Mexicans traditionally prefer well-known brands

Famous clothing lines bet on Mexico

Luxury brand producers pursue corporate responsibility

CATEGORY DATA

Table 10 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2012-2017
Table 11 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2012-2017
Table 12 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2012-2016
Table 13 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2013-2016
Table 14 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2012-2017
Table 15 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2017-2022
Table 16 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2017-2022

Fine Wines/Champagne and Spirits in Mexico

HEADLINES

PROSPECTS

Middle-income consumers increase wine consumption

Ultra premium tequila and luxury whiskies drive category growth

Trend for millennials to enjoy champagne when clubbing

COMPETITIVE LANDSCAPE

Luxury tequila options increasing

Unique packaging promotes luxury and exclusivity

CATEGORY DATA

Table 17 Sales of Fine Wines/Champagne and Spirits by Category: Value 2012-2017
Table 18 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2012-2017
Table 19 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2012-2016
Table 20 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2013-2016
Table 21 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2012-2017
Table 22 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2017-2022
Table 23 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2017-2022

Luxury Cars in Mexico

HEADLINES

PROSPECTS

Attractive pricing and finance plans boost sales of luxury cars

Millennials are responsible for almost half of luxury car sales

Leasing increases access to luxury cars

COMPETITIVE LANDSCAPE

Well-known brands lead in sales of luxury cars

Top tier luxury cars also show a strong performance

Nissan launches its exclusive model GT-R, "Godzilla"

CATEGORY DATA

Table 24 Sales of Luxury Cars: Value 2012-2017
Table 25 Sales of Luxury Cars: % Value Growth 2012-2017
Table 26 NBO Company Shares of Luxury Cars: % Value 2012-2016
Table 27 LBN Brand Shares of Luxury Cars: % Value 2013-2016
Table 28 Forecast Sales of Luxury Cars: Value 2017-2022
Table 29 Forecast Sales of Luxury Cars: % Value Growth 2017-2022

Luxury Jewellery in Mexico

HEADLINES

PROSPECTS

Jewellery is embedded in Mexican culture ensuring sales growth

Consumers constantly seek to be fashionable

COMPETITIVE LANDSCAPE

Producers of renowned brands promote accessible items

Accessible jewellery such as Pandora and Swarovski sets trends

A new generation of Mexican jewellers make a name for themselves

CATEGORY DATA

Table 30 Sales of Luxury Jewellery by Category: Value 2012-2017
Table 31 Sales of Luxury Jewellery by Category: % Value Growth 2012-2017
Table 32 NBO Company Shares of Luxury Jewellery: % Value 2012-2016
Table 33 LBN Brand Shares of Luxury Jewellery: % Value 2013-2016
Table 34 Distribution of Luxury Jewellery by Format: % Value 2012-2017
Table 35 Forecast Sales of Luxury Jewellery by Category: Value 2017-2022
Table 36 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2017-2022

Luxury Leather Goods in Mexico

HEADLINES

PROSPECTS

Foreign brands prevail in luxury hand bags

Non-leather luggage gains ground among luxury consumers

COMPETITIVE LANDSCAPE

Louis Vuitton remains the preference

Customisation is the new luxury

Luxury brands have an enhanced retail experience

CATEGORY DATA

Table 37 Sales of Luxury Leather Goods: Value 2012-2017
Table 38 Sales of Luxury Leather Goods: % Value Growth 2012-2017
Table 39 NBO Company Shares of Luxury Leather Goods: % Value 2012-2016
Table 40 LBN Brand Shares of Luxury Leather Goods: % Value 2013-2016
Table 41 Distribution of Luxury Leather Goods by Format: % Value 2012-2017
Table 42 Forecast Sales of Luxury Leather Goods: Value 2017-2022
Table 43 Forecast Sales of Luxury Leather Goods: % Value Growth 2017-2022

Luxury Portable Consumer Electronics in Mexico

HEADLINES

PROSPECTS

Mexico is not ready for branded luxury mobile phones

Luxury smartwatches enters the category in Mexico

Wearable jewellery is expected to appear in the near future

COMPETITIVE LANDSCAPE

Smartwatches launched under TAG Heuer and Louis Vuitton brands

Richemont de Mexico also wants a share of the sales under Montblanc

CATEGORY DATA

Table 44 Sales of Luxury Portable Consumer Electronics by Category: Value 2012-2017
Table 45 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2012-2017
Table 46 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2012-2016
Table 47 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2013-2016
Table 48 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2012-2017
Table 49 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2017-2022
Table 50 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2017-2022

Luxury Timepieces in Mexico

HEADLINES

PROSPECTS

Many consumers consider luxury timepieces an investment

Watch manufacturers struggle to adapt to declining demand

Smartwatches enter the luxury arena

COMPETITIVE LANDSCAPE

Top brands capitalise on the opportunities in Mexico

Samsung solidifies its position in luxury timepieces

Ferrari launches models exclusively for Mexico

CATEGORY DATA

Table 51 Sales of Luxury Timepieces by Category: Value 2012-2017
Table 52 Sales of Luxury Timepieces by Category: % Value Growth 2012-2017
Table 53 NBO Company Shares of Luxury Timepieces: % Value 2012-2016
Table 54 LBN Brand Shares of Luxury Timepieces: % Value 2013-2016
Table 55 Distribution of Luxury Timepieces by Format: % Value 2012-2017
Table 56 Forecast Sales of Luxury Timepieces by Category: Value 2017-2022
Table 57 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2017-2022

Luxury Writing Instruments and Stationery in Mexico

HEADLINES

PROSPECTS

Luxury writing instruments considered traditional commemorative gifts

Hand-writing notes becomes a nostalgic art

Branded players bet on innovative design and materials to attract consumers

COMPETITIVE LANDSCAPE

Montblanc is the dominant brand in luxury writing instruments

Millennials return to pen and paper via luxury notebooks

CATEGORY DATA

Table 58 Sales of Luxury Writing Instruments and Stationery: Value 2012-2017
Table 59 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2012-2017
Table 60 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2012-2016
Table 61 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2013-2016
Table 62 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2012-2017
Table 63 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2017-2022
Table 64 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2017-2022

Super Premium Beauty and Personal Care in Mexico

HEADLINES

PROSPECTS

Consumers switch to purchasing locally

Mexico is the top fragrance consumer in Latin America

Anti-pollution beauty products are a new trend

COMPETITIVE LANDSCAPE

Producers of luxury brands expand their presence in Mexico

Super premium colour cosmetics and fragrances show fastest growth

Luxury designer players launch personal and beauty care products

CATEGORY DATA

Table 65 Sales of Super Premium Beauty and Personal Care by Category: Value 2012-2017
Table 66 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2012-2017
Table 67 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2012-2016
Table 68 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2013-2016
Table 69 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2012-2017
Table 70 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2017-2022
Table 71 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2017-2022

Luxury Eyewear in Mexico

HEADLINES

PROSPECTS

Mexico is considered a top strategic location

New points of sale stimulate sales

Devlyn, largest optical chain in Mexico, bets on niche brands

COMPETITIVE LANDSCAPE

New brands appear in the country

Producers of leading brands look to incorporate technology in luxury eyewear

Marcolin GBO invests in Mexico along with other manufacturers

CATEGORY DATA

Table 72 Sales of Luxury Eyewear by Category: Value 2012-2017
Table 73 Sales of Luxury Eyewear by Category: % Value Growth 2012-2017
Table 74 NBO Company Shares of Luxury Eyewear: % Value 2012-2016
Table 75 LBN Brand Shares of Luxury Eyewear: % Value 2013-2016
Table 76 Distribution of Luxury Eyewear by Format: % Value 2012-2017
Table 77 Forecast Sales of Luxury Eyewear by Category: Value 2017-2022
Table 78 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2017-2022

Luxury Hotels (5-Star Plus) in Mexico

HEADLINES

PROSPECTS

Mexico is a popular destination for locals and North Americans

All-inclusive luxury hotels gain popularity

Niche, thematic tourism is on the way up

COMPETITIVE LANDSCAPE

Major luxury hotel chains investing in Riviera Maya

San Miguel de Allende continues to be recognised internationally

Rivera Nayarit is the next bet for major tourist development

CATEGORY DATA

Table 79 Sales in Luxury Hotels (5-star plus): Value 2012-2017
Table 80 Sales in Luxury Hotels (5-star plus): % Value Growth 2012-2017
Table 81 Sales in Luxury Hotels (5-star plus) by Country of Origin: % Value 2013-2017
Table 82 NBO Company Shares of Luxury Hotels (5-star plus): % Value 2012-2016
Table 83 LBN Brand Shares of Luxury Hotels (5-star plus): % Value 2013-2016
Table 84 Forecast Sales in Luxury Hotels (5-star plus): Value 2017-2022
Table 85 Forecast Sales in Luxury Hotels (5-star plus): % Value Growth 2017-2022

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Megatrends

Country Report

Luxury Goods in Mexico

New Report Guarantee

Executive Summary

New Report Guarantee

Mexico represents an attractive market for luxury goods manufacturers

Luxury consumer base continues to grow

Key iconic brands maintain a solid performance

Luxury players strengthen their brands’ retail presence in Mexico

Experiential luxury goods will continue to drive growth

Samples

Overview

Why buy this report?

Samples (FAQs about samples):

Want to find out more about this report?

Table of Contents

Luxury Goods in Mexico

EXECUTIVE SUMMARY

Mexico represents an attractive market for luxury goods manufacturers

Luxury consumer base continues to grow

Key iconic brands maintain a solid performance

Luxury players strengthen their brands’ retail presence in Mexico

Experiential luxury goods will continue to drive growth

MARKET INDICATORS

MARKET DATA

SOURCES

Designer Apparel and Footwear (Ready-To-Wear) in Mexico

HEADLINES

PROSPECTS

Sales grow on the back of middle-class access to luxury goods

Local purchases continue to grow

Managing influencers will become an essential part of the media strategy

COMPETITIVE LANDSCAPE

Mexicans traditionally prefer well-known brands

Famous clothing lines bet on Mexico

Luxury brand producers pursue corporate responsibility

CATEGORY DATA

Fine Wines/Champagne and Spirits in Mexico

HEADLINES

PROSPECTS

Middle-income consumers increase wine consumption

Ultra premium tequila and luxury whiskies drive category growth

Trend for millennials to enjoy champagne when clubbing

COMPETITIVE LANDSCAPE

Luxury tequila options increasing

Unique packaging promotes luxury and exclusivity

CATEGORY DATA

Luxury Cars in Mexico

HEADLINES

PROSPECTS

Attractive pricing and finance plans boost sales of luxury cars

Millennials are responsible for almost half of luxury car sales

Leasing increases access to luxury cars

COMPETITIVE LANDSCAPE

Well-known brands lead in sales of luxury cars

Top tier luxury cars also show a strong performance

Nissan launches its exclusive model GT-R, "Godzilla"

CATEGORY DATA

Luxury Jewellery in Mexico

HEADLINES

PROSPECTS

Jewellery is embedded in Mexican culture ensuring sales growth

Consumers constantly seek to be fashionable

COMPETITIVE LANDSCAPE

Producers of renowned brands promote accessible items

Accessible jewellery such as Pandora and Swarovski sets trends

A new generation of Mexican jewellers make a name for themselves

CATEGORY DATA

Luxury Leather Goods in Mexico

HEADLINES

PROSPECTS

Foreign brands prevail in luxury hand bags

Non-leather luggage gains ground among luxury consumers

COMPETITIVE LANDSCAPE

Louis Vuitton remains the preference

Customisation is the new luxury

Luxury brands have an enhanced retail experience

CATEGORY DATA

Luxury Portable Consumer Electronics in Mexico