ResearchMoz added Latest Research Report titled " Asia-Pacific Luxury Goods Market Forecast to 2018: Worldwide Market Size, Shares, Trends, Growth, Survey and Forecast report " to it's Large Report database.
Albany, NY -- (SBWIRE) -- 05/12/2016 -- Luxury goods refer to products which are commonly characterized by its 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, etc. has been seen since many
Asia particularly China has been the engine and facilitator for growth of luxury goods market for several years particularly for products, accessories and hard luxury items such as watches and jewelry. The Asia Pacific region currently accounts for over two-thirds of global luxury goods market and the region is expected to account for nearly half of total global luxury goods sales in coming years.
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Factors driving growth of luxury goods market in Asia Pacific region are increase in number of high net worth individuals in the region, consumption of luxury goods by middle class population and increasing internet penetration boosting e-commerce of luxury goods. In recent years, smaller Asian economies have also been showing rise in number of millionaires. However, counterfeiting of luxury goods and high import duties/tariffs in Asia Pacific region poses challenge to industry's growth in the region. Major trends prevailing in luxury goods market of Asia Pacific region are luxury tourism, expansion of luxury retailers to lower tier cities of the region and upcoming 'affordable luxury' segment.
Scope of the report
The report titled "Asia-Pacific Luxury Goods Market: Trends and Opportunities (2013-2018)" provides an in-depth analysis of major luxury goods market of Asia Pacific region like Japan, China, South Korea and India. The report assesses the key opportunities and underlying trends in the market and outlines the factors that are and will be driving the growth of the industry in the forecasted period (2013-18). Further, key players of the luxury goods market like LVMH Moet Hennessy Louis Vuitton SA, Compagnie Financiere Richemont SA, Kering SA and Hermès International are analyzed in the report.
- Asia Pacific
- South Korea
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- LVMH Moet Hennessy Louis Vuitton SA
- Compagnie Financiere Richemont SA
- Kering SA
- Hermès International
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