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Strategy Briefing
World Market for Luxury Goods
73 pages, Jun 2019
US$1,325Added to Cart
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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!
The luxury goods industry posted another year of positive growth in 2018, after a challenging 2017. The concept of luxury continues to shift in line with changing consumer values. Technology has been especially disruptive as it continues to democratise many luxury attributes, such as access and exclusivity. So too has consumers increasing preference towards luxury experiences over “things”. Crucially the concept of luxury as a status symbol is being replaced by that of a status experience.
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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.
Examining five trends shaping luxury goods
Frontier markets for the industry
The sheer size of the Asia Pacific region makes it impossible to ignore, but the luxury goods growth story is more complicated than mere size. Asia Pacific is expected to account for the majority of new affluent households over the next 15 years driving a host of new trends which will in turn drive middle-class luxury and premium preferences.
Digital luxury
Thanks to improving technology, rising incomes and user comfort, cconnectivity continues to be a major game-changer. Luxury brands are coming to grips with a new reality: digital is the lens through which luxury consumers make most of their decisions
Experience of luxury
Consumers continue to reassess their priorities, asking themselves what they truly value in luxury goods. Luxury is no longer simply about price or material goods but about acquiring meaningful experiences, and has gone from high quantity to high quality.
Sustainable luxury
With the 2030 Sustainable Development Goals in place, and the majority of the world signed up to the Paris Climate Agreement, with the exception of the US, the roadmap for luxury goods has been laid out. It will become increasingly important for luxury brands to be completely transparent about their ethical stances.
Luxury wellness
Luxury travellers are becoming increasingly interested in “off the beaten path”, “immersive” and “wellness” experiences. Personal development and transformation is at the forefront of the mind of today’s high-end consumer and luxury travel is an important conduit for achieving that.
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Introduction
Scope
Examining five trends shaping luxury goods
Four areas of opportunity
Global Outlook
Luxury goods in context
Total luxury goods sales in excess of USD1 trillion
Per capita spending by category: Hong Kong overtakes Switzerland
Asia Pacific continues to generate lions share of luxury goods sales
Despite risks of a slowdown China remains in the luxury spotlight
Luxury cars the cornerstone of the industry with over half of sales
Fine wines/champagne and spirits continue to lead in growth
Hard luxury continues its growth trajectory
China and UK biggest contributors to value over 2018-2023
Leading Companies and Brands
Luxury goods remains a highly concentrated industry
Luxury car manufacturers continue to dominate the landscape…
Global luxury powerhouses continue to lead in personal luxury
Sustainability remains key across all luxury business models
Tesla’s green model remains competitive
Accessible luxury price points continue to pull on purse strings
Asian consumers more important than ever to luxury brands
Key Trends Shaping Luxury Goods
Megatrends continue to shape the luxury goods landscape
“Affordable luxury” an oxymoron?
Michael Kors moves up into the demi-fine jewellery space
Digital remains the fastest growing channel in personal luxury goods
Digital is the lens through which consumers make most decisions
Future luxury consumers will be mobile-first
Omnichannel shopping will become the norm in luxury retailing
Blockchain set to make inroads in luxury?
World travel figures boosts sales of luxury goods
Travel health prognosis paramount for key players in hospitality
COMPETITIVE OUTLOOK
Destination movers and shakers will impact luxury retail landscape
Top Five Trends Shaping the Industry
Cross-border expenditure is an important driver in luxury sales
…largely dominated by China
The true weight of Chinese spending across key luxury markets
Transformational experiences drive the affluent consumer
Industry shifts attracting the younger consumer
“New” luxury appeals to millennials, but not all millennials are equal
Category Snapshots
Category snapshot: Luxury cars
Category snapshot: Designer apparel and footwear
Category snapshot: Fine wines/champagne and spirits
Category snapshot: Luxury eyewear
Category snapshot: Luxury jewellery
Category snapshot: Luxury leather goods
Category snapshot: Luxury portable consumer electronics
Category snapshot: Luxury timepieces
Category snapshot: Luxury writing instruments and stationery
Category snapshot: Super premium beauty and personal care
Regional Industry Snapshots
Regional industry snapshot: Asia Pacific
Regional industry snapshot: Australasia
Regional industry snapshot: Eastern Europe
Regional industry snapshot: Latin America
Regional industry snapshot: North America
Regional industry snapshot: Western Europe
Reports Definitions
Definitions
Appendix: Competitor Analytics
Competitor Analytics tool
Overview
Competitors
Market Overlap
Treemap
Overlap Matrices
Appendix: Industry Forecast Model
About Euromonitor International’s Industry Forecast Model
Soft drivers and the Industry Forecast Model
Growth decomposition explained
Significance and applications for growth decomposition
Key applications for Industry Forecast Models
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.
Want to find out more about this report?
Request more informationComplete Catalogue
Strategy Reports
Country Reports
- Luxury Goods in Argentina | Feb 2019
- Luxury Goods in Australia | Feb 2019
- Luxury Goods in Brazil | Feb 2019
- Luxury Goods in Canada | Feb 2019
- Luxury Goods in China | Feb 2019
- Luxury Goods in France | Feb 2019
- Luxury Goods in Germany | Feb 2019
- Luxury Goods in Hong Kong, China | Feb 2019
- Luxury Goods in India | Feb 2019
- Luxury Goods in Indonesia | Feb 2019
- Luxury Goods in Italy | Feb 2019
- Luxury Goods in Japan | Feb 2019
- Luxury Goods in Malaysia | Feb 2019
- Luxury Goods in Mexico | Feb 2019
- Luxury Goods in Poland | Feb 2019
- Luxury Goods in Romania | Feb 2019
- Luxury Goods in Russia | Feb 2019
- Luxury Goods in Singapore | Feb 2019
- Luxury Goods in South Africa | Feb 2019
- Luxury Goods in South Korea | Feb 2019
- Luxury Goods in Spain | Feb 2019
- Luxury Goods in Sweden | Feb 2019
- Luxury Goods in Switzerland | Feb 2019
- Luxury Goods in Taiwan | Feb 2019
- Luxury Goods in Thailand | Feb 2019
- Luxury Goods in the Netherlands | Feb 2019
- Luxury Goods in the Philippines | Feb 2019
- Luxury Goods in the United Arab Emirates | Feb 2019
- Luxury Goods in the United Kingdom | Feb 2019
- Luxury Goods in the US | Feb 2019
- Luxury Goods in Turkey | Feb 2019
- Luxury Goods in Ukraine | Feb 2019
Complete Catalogue
Strategy Reports
Country Reports
- Luxury Goods in Argentina | Feb 2019
- Luxury Goods in Australia | Feb 2019
- Luxury Goods in Brazil | Feb 2019
- Luxury Goods in Canada | Feb 2019
- Luxury Goods in China | Feb 2019
- Luxury Goods in France | Feb 2019
- Luxury Goods in Germany | Feb 2019
- Luxury Goods in Hong Kong, China | Feb 2019
- Luxury Goods in India | Feb 2019
- Luxury Goods in Indonesia | Feb 2019
- Luxury Goods in Italy | Feb 2019
- Luxury Goods in Japan | Feb 2019
- Luxury Goods in Malaysia | Feb 2019
- Luxury Goods in Mexico | Feb 2019
- Luxury Goods in Poland | Feb 2019
- Luxury Goods in Romania | Feb 2019
- Luxury Goods in Russia | Feb 2019
- Luxury Goods in Singapore | Feb 2019
- Luxury Goods in South Africa | Feb 2019
- Luxury Goods in South Korea | Feb 2019
- Luxury Goods in Spain | Feb 2019
- Luxury Goods in Sweden | Feb 2019
- Luxury Goods in Switzerland | Feb 2019
- Luxury Goods in Taiwan | Feb 2019
- Luxury Goods in Thailand | Feb 2019
- Luxury Goods in the Netherlands | Feb 2019
- Luxury Goods in the Philippines | Feb 2019
- Luxury Goods in the United Arab Emirates | Feb 2019
- Luxury Goods in the United Kingdom | Feb 2019
- Luxury Goods in the US | Feb 2019
- Luxury Goods in Turkey | Feb 2019
- Luxury Goods in Ukraine | Feb 2019