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(MoneyNewsWire.Net, December 03, 2015 )
Luxury goods retail sales in Europe generated US$116.4 billion in 2014. Many European countries are popular as tax free shopping destinations among tourists. Shoppers from other regions prefer to buy luxury products in Europe to save on huge import taxes. Chinese and Russian tourists are the biggest spenders, however, in recent years, the economic slowdown and currency devaluation coupled with government austerity measures on gift giving in China and the recession and Ruble depreciation in Russia has reduced the number of Chinese and Russian tourists and their spend in European countries resulting in slow growth.
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Key Findings
The UK will emerge as the largest market for luxury retailing by 2019, surpassing Italy and France
Turkey is the fastest growing luxury market driven by rising disposable income, rapid urbanization, and changing demographics
The luxury market in Russia is shattered amid recession and ruble depreciation
Clothing remains the key category in most luxury markets across Europe, accounting for a 24.7% share in 2019, driven by the demand for new designer’s apparels from young fashion designers and international brands
Jewelry is the fastest growing luxury category as it has an added advantage of being considered an asset amongst individuals, particularly for those affected by the recession, the upper middle class, HENRYs (high earners, not rich yet), and tourists from developing economies
Techno-luxury in wearables and use of new in-store technologies to enhance consumer experience, are some of the new trends in luxury retailing
Synopsis
The ""Luxury Goods Retailing in Europe, 2014-2019"" report published by Conlumino provides a comprehensive view of the Luxury Goods retail landscape in Europe.
It includes:
Current market sizes and forecasts to 2019 by country and category; Covers 24 countries in Europe including Turkey and 12 categories - clothing, jewelry, watches and accessories, drinks, personal care, home furniture and homewares, luggage and leather goods, footwear, communications equipment, tobacco, stationery, consumer electronics and others
Current market data by category and country and share of luxury goods in total retail sales
Information on fastest growing category and country and market size forecasts for each country in Europe
Market shares of major luxury brands, mergers and acquisitions and luxury retail trends
Analysis of LVMH brand expansion and growth strategies.
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Reasons To Buy
Get accurate and reliable luxury retail sales data of 24 countries in Europe for 2014 and forecast for 2019 to identify the largest and fastest growing market and to discover profitable markets for expansion/entry
Explore an in-depth analysis of luxury retail sales data by categories to spot and target key categories in each country, to analyze current and future growth prospects and develop strategies for category/country you are interested in
Learn from luxury market retail trends and define your strategies based on the need of luxury retail landscape in the region
Make country level comparisons to effectively target new revenue streams and align your marketing strategies with the crucial trends influencing luxury spending in the region
Understand competitive positioning based on the information on market shares, store count and latest developments for key luxury retailers in the region
Track brand expansion and growth strategy of LVMH through a detailed case study
Gain information on all major mergers and acquisitions of luxury brands to understand the luxury market space and acquisition strategies of competitors
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