Global Luxury Goods Market Trends Industry Analysis and Forecast 2021 April 2017 | Page 2

Global Luxury Goods Market: Industry Analysis & Outlook (2017-2021)
Luxury goods refer to products or services of superior quality that are distinguished from normal
goods because of their unique craftsmanship, exclusivity and the reputation associated. They are
characterized by their quality, price, scarcity, uniqueness, status, ancestral heritage and personal
history. Luxury goods can reach the customers in three ways, through retail, wholesale or online.
The wholesale route gives wider market exposure; retail channels give the opportunity for having
direct contact with the customers, while the online mode gives flexibility to the customers.
Growing affluence and rising consumer consciousness has ensured sustained growth in the global
luxury goods market, which is helmed by personal luxury goods at the forefront. Key factors
driving this growth are rise in HNWI population, increasing net household wealth, growing wealth
inequality, rising internet users and growing urban population. The major trends observed in the
market are higher sales via off-price stores, and inclining sales via e-commerce platforms. Further,
the growth of this market is hampered by factors such has geopolitical instability, need for better
data analysis and struggling Chinese currency.
The report “Global Luxury Goods Market: Industry Analysis & Outlook (2017-2021)” analyzes the
development of this market, with focus on the EMEA, the Americas and Asia-Pacific markets. The
major trends, growth drivers as well as issues being faced by the market are discussed in detail in
this report. The four major players: LVMH Moët Hennessy Louis Vuitton SE, Kering SA, Compagnie
Financière Richemont SA and Luxottica Group SpA are being profiled along with their key
financials and strategies for growth.
Complete report on luxury goods market spread across 81 pages, providing 4 company
profiles with 55 charts is now available at
http://www.marketreportsonline.com/581919.html.