Luxury Goods Retailing in Europe, 2013-2018 – Market & Category Expenditure and Forecasts, Trends, and Competitive Landscape

Date: 2015-09

“• Despite economic and political instability, the luxury goods market remains strong, driven by growth in tourist spending – between 2013 and 2018 it will grow by US$38.4bn
• The UK will emerge as the largest market for luxury retailing by 2018, surpassing Italy
• Clothing remains the key category in most luxury markets across Europe, accounting for 24.2% share in 2018, 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 asset amongst individuals, particularly for those affected by the recession, the upper middle class, HENRY’s (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”

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