In the first-of-its-kind study of luxury industry executives, Luxury Daily and Unity Marketing teamed to understand the trends shaping the future of the luxury market from an industry insiders' point of view. More than 600 executives participated in the luxury industry insider survey.
The results, published in a new study entitled State of Luxury 2017: The Insider View, gives a bird's-eye view of the luxury industry today, its challenges and opportunities, and where it is headed in the future.
Throughout the report, the results are analyzed from each players' unique perspective. That enables industry participants to draw conclusions about how the research findings impact their own businesses.
The results reveal that the past year has been a challenging one for luxury businesses. Yet the executives surveyed believe their companies have strategies to respond to the shifts in the market that will enable them to overcome the headwinds they have faced.
The insiders have ambitious goals for 2017 and expect to do better over the next twelve months. Just how they plan to do that is examined in the report.
This study uncovered seven key trends shaping the future of the luxury industry. The most profound of which is the very definition of luxury' is shifting in the minds and lifestyles of the customers we serve. It requires equally dynamic changes in the strategies we use to market and manage luxury businesses.
These seven key trends can make, or break, future prospects for the luxury industry and the companies competing in it:
- What defines luxury is changing
- Internet and social media impacts
- Dramatic consumer shifts
- Competitive pressures
- Political turmoil
- Demand for innovation
Key Topics Covered:
1. Executive Overview
2. Luxury Insiders' Surveyed
3. A Closer Look at the Luxury Goods & Services Marketers
4. Key Trends Impacting the Luxury Market
5. Trend Perspectives by Insiders' Segment
6. Business Conditions in the Luxury Industry
7. Luxury Business Condition Index by Segment
8. Advertising and Marketing Spending Trends
9. Seven Top Trends Shaping Future of the Luxury Market
10. How Luxury Insiders Are Finding Their Way to Growth and Prosperity
11. Final Thoughts
For more information about this report visit http://www.researchandmarkets.com/research/3j67cq/state_of_luxury