DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/4799fk/global_luxury) has announced the addition of the "Global Luxury Goods Market Report: 2015 Edition" report to their offering.
This report analyzes the development of the "Global Luxury Goods Market", with a focus on some of the major segments including cars, wines and spirits, and jewelry. The mature market of Europe along with emerging market of China is being discussed in the report. The major trends, drivers facilitating growth of the luxury goods market as well as the issues being faced by the industry are being presented in this report. The four major players in the luxury goods industry include LVMH, Kering Group, Hermes International and Richemont are being profiled in the report highlighting their key financials and strategies for growth.
Luxury goods refer to products which are commonly characterized by their premium quality, craftsmanship, recognizability, exclusivity and reputation. These high-end goods tend to satisfy socio-psychological needs in greater form and bring esteem to the owner. Fondness for all forms of luxury like fashion products, accessories, bags & cases, cosmetics & fragrances, vehicles, utility gadgets, beverages and interior decoration products, has been seen since many centuries. In economic terms, luxury goods are the ones for which the law of demand is reverse i.e. the demand for such products increases with price.
Luxury is usually stratified in three layers viz. Accessible, Aspirational and Absolute. A few other factors which determine the degree of luxury are price, uniqueness, availability, promotion, and brand among others. Moreover, the luxury industry usually covers products like perfumes and cosmetics; hard luxury; cognac; handbags and cases; furniture; vehicles, etc. These products are sold through wholesale, retail or online channels.
Improving global economy, rising disposable income and wealth, growing consumption of luxury goods by middle class population and continuous global urbanization are all major factors that are fueling the development of global luxury goods market. Growth of this market is directly associated with macro indicators, including real GDP, tourist arrivals, wealth, and disposable income.
One of the main drivers to propel the growth of this market is the booming business of online personal luxury goods. The emergence of an off-price pricing strategy in the global online luxury goods market is making personal luxury goods accessible to a greater number of individuals since they can compare the prices of different products and make the final deal. Further, men are increasing their contribution to this market by making more purchases.
- LVMH Moet Hennessy Louis Vuitton
- Hermes International SCA
Key Topics Covered:
1. Market Overview
2. Market Size
3. Market Dynamics
3.1 Key Trends
3.1.1 Travel Continues to Boost Luxury Industry
3.1.2 Dynamic Gender Preferences
3.1.3 Luxury Shoe Market
3.1.4 Demand for Alternate Luxury Goods
3.1.5 Pre-owned/ Second-hand Luxury Goods Market
3.2 Growth Drivers
3.2.1 Increasing Number of High Net Worth Individuals
3.2.2 Global Economic Growth
3.2.3 Growing Demand from Emerging Markets
3.2.4 Boosting e-Commerce via Increased Internet Penetration
3.3.1 High Import Tariffs/Duties
3.3.2 Counterfeiting Of Luxury Goods
4. Competitive Landscape
5. Company Profiles
6. Market Outlook
For more information visit http://www.researchandmarkets.com/research/4799fk/global_luxury