luxury strategies
2014-2018 Luxury fashion online sales – Top markets
While luxury goods purchase in physical stores has been growing by 3% since 2013, online sales have a solid 20% growth reaching USD 9 billion. Luxury e-commerce became a strong luxury news among brands, not only because technology allows a better online user experience but more and more brands have embraced the e-business era. Currently online sales in the luxury industry represent only 7% of total luxury sales in the world but in the next 5 years it should grow aggressively and reach a total USD 22.5 billion. Already today, we know that more than half of all luxury purchases have a digital component in the purchase path. In deed, more than 50% of luxury buyers get information online before acquiring a luxury good or service. As we can see here in this chart, countries like the US but also Italy and Hong-Kong will have a strong growth in online luxury sales….
Luxury news: India, the other giant luxury market
United States, Europe or China has been ruling the luxury market for several years now. Another interesting country is India. The 1.252 billion inhabitants country represents an amazing opportunity for brands who know how to play it right. In 2016, the luxury market in India will represent a $18.3 billion sales, which is a +25% growth. This is big Luxury news! We might wonder why India is having such a strong growth of its luxury market. There are several explanations. The first interesting point is the fact that several international brands are increasing constantly their reputation and awareness in the country. Indian luxury goods remains fragmented. International players such as LVMH Watch & Jewellery India Pvt Ltd, Gucci India Pvt ltd, Burberry India Pvt Ltd and Swatch Group India Pvt Ltd continue to lead this fragmented landscape. The presence of domestic Indian players is mainly within categories such as traditional jewellery…
Top 3 American Luxury brands to watch out in 2016
2015 is almost finished and we can already say it was a great year for American luxury brands. With 4% of growth, while economic crisis is high, the sector has deployed a tremendous amount of inventiveness and kept its investments towards innovation, design and appropriate messages. Concerning the US, American luxury brands have regained popularity and here is a top 3 of the best American luxury brands to watch out in 2016. USA, the absolute giant in the luxury industry The US is the biggest market in luxury goods in the world. With $77Billion sales in 2014, it ranks 2.6 times higher than the second luxury market in the world which is Japan (with $30Billion). 2015 turns to be one of the best performing years to the US with an expected GDP of +3.3%. Inflation remains at 1.9%, this means consumption power has increased in the national market. Tourism…
Luxury is going to where the money is
With the emerging countries getting richer and richer, luxury customers changed. We used to have Americans, Japanese, Italians or even French people traveling and buying Luxury products and services at home or abroad. The entire luxury industry, from high-end hotels to Fashion, Automobile or Jewelry had adapted to these customers. What about now? These countries are in an endless economic crisis and the ones which are driving the Luxury revenue are not the ones you think anymore. Brazil, India, China, Taiwan, South Korea are now leading in terms of luxury purchase. These countries are the ones with money, so the luxury clientèle changed a lot. Probably faster than the luxury structure itself. Asia Pacific will rule in terms of luxury buys According to Euromonitor, the luxury worldwide market reach more than $ 300 billion in 2013. 33% of this figure were made by Europe. It was the biggest market for…
WPP to create dedicated team for Chanel
Some brands have outstanding positions in the luxury industry. They accomplish amazing communication campaigns and very often they have ultra-talented agencies working for them. That’s the case of Chanel who have been working in the past years with WPP. This month WPP announced the creation of an internal dream team for Chanel. It is called Plus. Chanel, a media giant Chanel is an amazing brand and a great media investor. Only in the USA, its biggest market, Chanel invested more than 139 million $ in measurable media in 2012, which is pretty consistent vs 2011. Only in American magazines, the total amount of investment reaches 78.9 million $. WPP, great powers lead to great responsibilities Being the agency of several big brands, WPP developed a very interesting model of work. Once a customer crosses a certain amount of business, they put in place a dedicated team. One of the first…