DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Luxury Goods Market: Industry Analysis & Outlook (2017-2021)" report to their offering.
Luxury goods refer to products or services of superior quality that are distinguished from normal goods because of their unique craftsmanship, exclusivity and the reputation associated. They are characterized by their quality, price, scarcity, uniqueness, status, ancestral heritage and personal history. Luxury goods can reach the customers in three ways, through retail, wholesale or online. The wholesale route gives wider market exposure; retail channels give the opportunity for having direct contact with the customers, while the online mode gives flexibility to the customers.
Growing affluence and rising consumer consciousness has ensured sustained growth in the global luxury goods market, which is helmed by personal luxury goods at the forefront. Key factors driving this growth are rise in HNWI population, increasing net household wealth, growing wealth inequality, rising internet users and growing urban population. The major trends observed in the market are higher sales via off-price stores, and inclining sales via e-commerce platforms. Further, the growth of this market is hampered by factors such has geopolitical instability, need for better data analysis and struggling Chinese currency.
Rise in Population of HNWIs
Increasing Net Household Wealth
Wealth Inequality to Boost the Sales of Luxury Goods
Rising Internet Users
Growing Urban Population
- Compagnie Financière Richemont SA
- Kering SA
- LVMH Moët Hennessy Louis Vuitton SE
Luxottica Group SpA
Key Topics Covered:
2. Luxury Goods Market
3. Global Personal Luxury Goods Market
4. Market Dynamics
5. Competitive Landscape
6. Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/rqtx62/global_luxury