Following a steep but short decline in global sales, the luxury retail market made a stylish comeback in 2010 and continues to thrive in 2011. Affluent consumers are rekindling their love for premium brands, and those with newfound wealth are discovering them for the first time. Verdict forecasts that the market will grow 65% between 2010 and 2015. This report tells you exactly where that growth is occurring, the brands that are driving sales, and the key strategies being used to entice luxury shoppers.
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Global Luxury Retailing: Market Size, Brand Strategies and Competitor Performance - Access your free report extract
1. Global Luxury Retailing
Market Size, Brand Strategies and Competitor
Performance - Access your free report extract
Access your free report extract
Sample what Verdict has to offer by
downloading a complimentary extract from our
report. We identify luxury shoppers in China,
present some of the strategies being used by
luxury houses to showcase their brands in the
country, and give you a list of national
department stores and luxury goods websites
which could be your gateway into this lucrative
market.
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2. Following a steep but short decline in global sales, the luxury retail market made a
stylish comeback in 2010 and continues to thrive in 2011. Affluent consumers are
rekindling their love for premium brands, and those with newfound wealth are
discovering them for the first time. Verdict forecasts that the market will grow 65%
between 2010 and 2015. This report tells you exactly where that growth is occurring, the
brands that are driving sales, and the key strategies being used to entice luxury
shoppers.
3 Ways this report will help you:
• Are you a department store, an investor, or a supplier to the luxury retail sector?
Identify which luxury brands you want to support by uncovering their key
performance indicators. Discover whether its sales of leather, cosmetics or clothing
that are burgeoning, by accessing category data for the market.
• Are you a luxury brand developing your e-commerce operations and aspiring to
be stronger than your peers? Benchmark your company's internet proposition and
discover new ways to improve your customers' shopping experience. Inform the
next stage in worldwide expansion for your online and store operations by
accessing luxury expenditure forecasts to 2015.
• Read about all the market trends that matter, and develop captivating business
pitches equipped with market insights derived from Verdict's interviews with key
executives at leading luxury houses and information from global wealth managers.
3.
4. Key findings from this report:
• In 2011 recovery in the luxury goods market has continued with retail expenditure
on branded luxury products forecast to expand by 17.3% in dollar terms year-on-
year. Asia Pacific is at the forefront of growth and China remains the key growth
generator in the region, but new demand from other markets such as South
Korea, Taiwan and to a lesser extent India, is also contributing to strong
performance.
• While previously luxury houses were sceptical about launching transactional
websites, now the majority of luxury players have at least a limited online offer.
However, there remains much confusion in the luxury goods sector surrounding
how to guarantee a premium service online. Moreover, many high-end retailers
still haven't seized the opportunity to use their transactional sites to communicate
frequently with their target audiences.
• Burberry saw its revenue rise by a compounded annual growth rate (CAGR) of
10.9% in 2006–10, which led the British company to overtake Giorgio Armani as
the seventh largest luxury fashion house globally. Burberry's exceptional
performance is down to effective management, a revamped brand image,
rapid international expansion, and, more recently, powerful engagement with its
customers through digital strategies.
5.
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