Luxury Goods Market: Overview
The demand of luxury goods is increasing due to rising disposable income. The products which are not essential to survive but which make life more pleasant for consumer are called as luxury goods. Luxury goods are also called as superior goods. The growth of luxury goods market is directly proportional to the income elasticity. The way of purchasing luxury goods also affect the luxury goods market. Being able to recognize the right channel for marketing, purchasing way of luxury consumers and choose the beneficial way of shopping in-store vs. online will be a key focus for luxury brands going forward. These factors are strongly associated with the growth of luxury goods market.
The report includes detailed competitive landscape of the global luxury goods market. It includes company market share analysis, product portfolio of the major industry participants. The report provides detailed segmentation of the luxury goods market based on product segment and region. Luxury cars, luxury watches & jewelry, apparels and leather goods, luxury personal care & cosmetics, wines/champagne and spirits, fragrances and others (tableware, luxury pens etc.) are major product segments of luxury goods market. The apparel and leather goods segment was the leading product segment in 2014 and is expected to continue its dominance throughout forecast period.
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Luxury Goods Market: Regional Analysis
Major regional segments analyzed in this study include North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. This report also provides further bifurcation of region on the country level. Major countries analyzed in this reports are U.S., Germany, France, UK, China, Japan, India, and Brazil. Luxury goods market was dominated by Europe due to strong per capita expenditure on luxury goods. Europe is followed by North America. Increasing consumption of luxury goods in emerging economies such as China and India triggers the luxury goods market. Additionally, due to growing consumer disposable income and luxurious lifestyle is expected to exhibit the rapid growth of this market in Asia Pacific region.
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Luxury Goods Market: Competitive Players
The report covers detailed competitive outlook including company profiles of the key participants operating in the global market. Key players profiled in the report include LVMH Group, Kering S.A., Rolex S.A., L’Oreal Group, Tiffany & Co., Coty, Inc., The Swatch Group Ltd., Prada S.p.A, Compagnie Financière Richemont S.A., Hermes International SCA, Graff Diamonds, Burberry Group plc, Revlon, Inc., and Avon Products, Inc.
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The report segments the global luxury goods market into:
Global Luxury Goods Market: Product Segment Analysis
- Luxury Cars
- Luxury Watches & Jewelry
- Apparels and Leather Goods
- Luxury Personal Care & Cosmetics
- Wines/Champagne and Spirits
- Others (Tableware, Luxury Pens etc)
Global Luxury Goods Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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