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Global Luxury Retailing | Verdict Sector Report

  • December 2014
  • -
  • GlobalData
  • -
  • 139 pages

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Summary
The era of double digit global luxury expenditure growth continues to slip away, with a second year of much softer rises in 2014 up 3.8%. As a result of a slowdown in China - caused by a shift in purchasing behaviour and crackdown on luxury gifting - political problems in Russia and recovering economies in much of Europe, the global luxury market has entered a more modest growth period.

Key Findings
- Make informed regional investment decisions with luxury expenditure forecasts to 2020 based on inputs including the number of wealthy individuals.

- Choose which product sectors to prioritise and grow based on 2015 and 2020 sales forecasts across five sectors and their sub categories.

- Discover the size of the online luxury market and pureplay market in 2015 and forecasts for 2020 to aid investment decisions in digital operations.

- Understand the variety of luxury shopper personas as well as shopping habit differences by region and learn how best to target these consumer groups.

- Use our market share data to analyse which rivals are struggling, allowing you to gain a competitive advantage and build a strategy to steal share.

Synopsis
Asia Pacific will continue to be the driving force of the market, aiding luxury expenditure to grow by 40.5% in the five years to 2020. While geographically smaller, we expect to see a higher level of interest in countries such as Indonesia, Malaysia, Vietnam and Thailand which will drive spend in South East Asia by 76.3% in the next five years.

The importance of personal appearance and looks in China has fallen in 2014, partly due to a gradual shift in consumer sentiment toward wanting more subtle luxury and being less driven to display wealth or enhance appearance through the products they buy. Smaller discreet luxury players like Elie Saab and Paul and Joe should capitalise on this trend.

As new luxury players launch online and introduce country dedicated websites, online luxury spend will grow by 25.3% in 2015 to a 7.1% share of total spend. The online pureplays market will outperform at 35.4% as My Theresa, Yoox, and Far Fetch continue to grow their branded offers allowing them to reach a larger customer base.

Reasons To Buy
- Which regions/markets hold the most potential for the luxury sector and should I invest in them?

- How have consumer spending habits changed in regions such as Western Europe, China and Russia, and how should I adapt my proposition to target them?

- What is the size of the online luxury sector and how can I learn from existing luxury online pureplays and the online discounters?

- Which retailers are gaining market share, and which are struggling to protect their share and why? How will market leader LVMH fare in 2015?

- Which product categories are forecast to deliver the most robust growth? In what regions should luxury houses push diffusion lines?

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