Overview Of late the global market for hard luxury goods has been gaining noticeable impetus. With the rising presence of branded products among consumers, fueled by the significant increase in their disposable income, this market is likely to continue witnessing strong growth over the next few years. This report by Transparency Market Research TMR attempts to present a comprehensive analysis of the global hard luxury goods market by examining the prominent trends, growth drivers, limitations, and opportunities and the impact of these factors on the demand for hard luxury goods between and
Request Advisory Luxury goods comprises of products such as accessories, footwear, apparel, watches and others which are quite expensive and target those consumers who belongs to premium class.
The market for luxury goods consist of three types of end consumers, which includes kids lying between the age of years, teenagers belonging to the age group of 13 to 19 years and the rest lies in adult group.
Luxury goods market can also be segmented on the basis of application which includes soft luxury goods and hard luxury goods. Soft luxury goods includes designer apparel and leather goods such as hand bags and others, which is easily available for the customers in the hypermarket stores or directly operative outlet.
Whereas hard luxury goods comprises of jewellery and premium watches. The hard luxury goods are offered to the consumers through premium class outlets, stores or sell out through internet.
Thus the market for hard luxury product is also segmented on the basis of mode of distribution channel used for offering products to the consumers.
Among all these distribution channel online retailing is expected to be most preferred mode for distribution in the forecasted period. This is due to consumer convenience preferences and availability of the products at lower price.
North America and Europe is the highest contributor in the market share of hard luxury goods market. Increasing demand of accessories coupled with rising middle class disposable income has supported the growth of emerging markets in Asia-Pacific.
It is expected to account for the fastest CAGR growth as compared to other regions. Among all the countries in Asia Pacific China is expected to be the most lucrative market followed by Japan. India is also expected to show a healthy growth in the forecasted period by registering a single digit CAGR growth.
The rising growth for hard luxury goods in Singapore is supported by the new entrants of jewellery brands and rising sales of watches. Rapid urbanization coupled with increasing disposable income in Thailand and Malaysia is predicted to boost the customer base and prominent contributor in the revenue of hard luxury good market in ASEAN region followed by Indonesia and Philippines.
Expanding middle class income group coupled with the urge of consumers for premium class products are the key drivers for the market growth of hard luxury goods in ASEAN region.
Moreover, wide varieties of product offerings in each segments and continuous innovation and product launch is also expected to influence the consumers of ASEAN region to fuel the market growth of hard luxury goods in the forecasted period.
This includes the weak distribution channel and limited availability of the products. Furthermore, the consumers perceives these products as quite expensive and also it is considered as a premium class product and not an absolute necessity.
This research report presents a comprehensive assessment of market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology.
It provides analysis and information by categories such as market segments, geographies and types. The report covers exhaustive analysis on:Poverty is the scarcity or the lack of a certain (variant) amount of material possessions or money. Poverty is a multifaceted concept, which may include social, economic, and political elements.
Absolute poverty, extreme poverty, or destitution refers to the complete lack of the means necessary to meet basic personal needs such as food, . Furthermore, the report estimate the market size of each of the regional hard luxury goods market in and make predictions for the coming years.
The figures related to the regional markets have been estimated on the basis of their performance, in terms of the product-, distribution channel-, and gender-based segments. Global Hard Luxury Goods Market: Geographical Outlook In terms of the geography, the research study broadly classifies the global hard luxury goods market into North America, Europe, Latin America.
This report researches the worldwide Hard Luxury Goods market size (value, capacity, production and consumption) in key regions like United States, Europe, China, Japan and other regions.
The global hard luxury goods market has a wide diversification as the range of products is dependable majorly on the types of categories, gender, sales channel. This report by Transparency Market Research (TMR) attempts to present a comprehensive analysis of the global hard luxury goods market by examining the prominent trends, growth drivers, limitations, and opportunities and the impact of these factors on the demand .