Luxury Goods Retailing - International - August 2013
“A number of brands – including Tiffany, Burberry and Gucci – have made efforts to push upscale in recent years. And there looks to be scope for brands to continue this journey and so capture the more resilient ultra-affluent shopper.”
– Hilary Monk, Senior Retail Analyst
Some questions answered in this report include:
- What’s the role of online in luxury retailing?
- Who is buying luxury goods?
- How can brands capture the young and the aspirational shoppers?
- How can brands push upscale to capture the ultra-affluent shopper?
- Where are the new opportunities?
As in previous years, Luxury Goods Retailing – International, August 2013 includes Mintel’s proprietary global market size and forecast, as well as bringing together key measurables for leading luxury companies in our Company Metrics section and company profiles.
This year, the report also includes findings from Mintel’s exclusive consumer research carried out across seven major markets: the UK, the US, France, Germany, Italy, Spain and China. This proprietary data provides valuable insights into attitudes and buying habits related to luxury goods in the major markets.
Also new this year:
Mintel market size estimates for the ten largest national markets for luxury goods – in addition to our regional market breakdown.
An Online and Social Media section taking stock of e-commerce development in luxury goods retailing. The report includes profiles of 17 leading luxury companies, spanning the categories that are the focus of this report: watches and jewellery, apparel and leather goods, and fragrance and cosmetics.
This report differs from other Mintel retail titles in that it looks primarily at companies involved in design, manufacturing and distribution, rather than traditional retailing. However, in recent years, many luxury houses have refocused on directly-operated stores rather than wholesaling to third party distributors. The reported revenues from these companies therefore include a mix of retail turnover, wholesale sales to franchisees and concessionaires, plus income from licence agreements.
Defining luxury goods
For the purposes of this report we follow a consensus definition based on the notion of 'luxury goods' as representing the top sector in any product market. However, we would also advise readers that it is helpful to consider the definition as referring to the special element of a luxury product that makes it desired for its own sake rather than any function that it may have.
With the development of the concept of 'accessible items' and the inherent 'aspirational' element in the notion of 'luxury', many luxury goods businesses have extended their reach to a broader audience of consumers, outside of their traditional target group (i.e. high net worth individuals). This makes a consistent definition of what constitutes a luxury good more difficult to establish. Therefore we believe that our relational definition, ie the 'top sector of any market', is the most useful.
Our market size is comprised of the following product categories:
- Fashion & leather goods
- Fragrances & cosmetics
- Jewellery & watches
- Other - writing instruments, eyewear, furniture and other home goods and other miscellaneous items. It may also include a small element from hotels (eg Bulgari), spas and bars.
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What you get
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
* This is a sample representation of the report layout and does not reflect the research included in this report.
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