Market Research Store releases a new market research report "Luxury Goods Retailing in Asia-Pacific, 2014-2019; Market and Category Expenditure and Forecasts, Trends, and Competitive Landscape" to add to its collection of research reports.
Deerfield Beach, FL -- (SBWIRE) -- 09/04/2015 -- Market Research Store has announced the addition of the "Luxury Goods Retailing Market in Asia-Pacific, 2014-2019; Market and Category Expenditure and Forecasts, Trends, and Competitive Landscape" report to their offering.
In the historic period, luxury goods retail sales in the Asia-Pacific region grew significantly, driven by growing sales in emerging luxury markets. However, the economic slowdown in China reduced Chinese spending on luxury goods, resulting in a decline in sales in China in 2014, and the slow growth of luxury retail sales across the region. Strategizing is necessary to sustain in challenging environment. Luxury retailers are slashing prices to attract shoppers while government is exempting taxes and relaxing visa to increase tourists spending.
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- Luxury goods retail sales in Asia-Pacific will reach US$134.9 billion by 2019, growing at a CAGR of 7.0% during 2014-2019.
- Japan will remain the largest market for luxury goods, amid slowdown in China
- India's luxury goods market is the fastest growing in Asia-Pacific, driven by rising disposable income, growing fascination towards luxury brands, and the desire of high earners to differentiate themselves from others
- Jewelry, watches, and accessories is the largest and fastest growing category in the region, driven by higher spending on jewelry and watches by Chinese, Japanese, and Korean consumers.
- The Hong Kong luxury market is struggling due to political unrest and reduced Chinese spending
- Although India is growing the fastest, international luxury retailers face challenges
- Luxury tax exemption will boost luxury goods consumption in Indonesia
- Social messaging apps is a trending marketing channel for luxury brands, as the digital channel is influencing the purchasing decisions and pattern of consumers
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The "Luxury Goods Retailing in Asia-Pacific, 2014-2019" report published by Conlumino provides a comprehensive view of the Luxury Goods retail landscape in Asia-Pacific. It includes:
- Current market sizes and forecasts to 2019 by country and category; Covers 12 countries in Asia-Pacific - Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, South Korea, Thailand 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
- Highlights the region's fastest growing markets for the categories; also provides market data by categories and penetration of luxury retail sales in total retail sales.
- Details market size forecasts for each country in Asia-Pacific, and features major luxury brands, mergers and acquisitions and luxury retail trends
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Reasons To Buy
- Get accurate and reliable luxury retail sales data of 12 countries in Asia-Pacific region 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
- 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 Compagnie Financiere Richemont SA 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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