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. This report features key insights and the latest trends in luxury goods around the globe in , 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. Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats.
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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! Despite on-going threats of a trade war and global economic uncertainty, the outlook for luxury overall remains optimistic.
This report looks at key trends shaping the landscape with emphasis on sustainability, the impact of digital and technological developments and the growing need for experience. Indeed, thanks to rising incomes and expanding middle classes luxury consumers are more sophisticated than ever, seeking out new and sustainable luxury products and experiences both on and off-line.
Files are delivered directly into your account within a few minutes of purchase. 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. Globalisation and disruption impacts luxury sales The world is changing faster than ever and the luxury goods landscape is experiencing a period of rapid globalisation and disruption.
Frontier markets continue to drive sales Asia Pacific continues to be the most important region overall for luxury goods. Digital luxury Technology continues to be a major factor in all global markets. The luxury industry is embracing the digital channel with mobile being of particular note.
By collecting big data and building consumer profiles, brands aim to improve the overall user and customer experience. Experience of luxury as a new status symbol Luxury is increasingly becoming less about material goods and more about acquiring meaningful experiences.
Crucially, the concept of luxury as a status symbol is being replaced by that of a status experience. Sustainable initiatives on the rise Luxury businesses today are facing increasing pressure from consumers, governments, investors and NGOs to have a positive impact on people and the planet, forcing companies and retailers to rethink their approach to sustainability. Sustainable initiatives will be key for all luxury players over the next five years, with the bulk of the investment going into projects related to waste, recycling and sustainable product development.
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World Market for Luxury Goods
Luxury shopping behaviour, channel dynamics and travel plans are seeing inevitable shifts as a result of lockdowns, as well as the closure of Given that the UAE has become increasingly connected to the global economy, it is expected that the retail environment will incur some risks related to growing trade protectionism, heightened political uncertainty and financial market turbulence. The last 30 years witnessed more damage to our planet than in the previous five billion years. Environmental threats and the need for sustainability are shaping how luxury companies do business, as well as how consumers show brand loyalty. Even though economic indicators have returned to a positive perspective with greater steadiness, Luxury goods continued to perform well in current value terms in Thailand in
Global Luxury Goods Overview
If you purchase a report that is updated in the next 60 days , we will send you the new edition and data extract FREE! Despite persistent economic turbulence, mounting troubles in the Eurozone and political instability in several emerging markets, the global luxury goods market remains largely positive. The pursuit of luxury has been sustained, with both absolute and affordable luxury rebounding strongly. With a new world order at stake, highlighted further by the BRIC growth story, luxury brands are using innovative ways to compete in this highly challenging industry. Files are delivered directly into your account within a few minutes of purchase.