Luxury goods refer to products which are commonly characterized by their premium quality, craftsmanship, recognizability, exclusivity and reputation
(PRWEB) November 18, 2014
ResearchMoz has announced the addition of the “Global Luxury Goods Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 - 2020” report to their offering.
Offering a competitive analysis of the luxury goods market, the report segments the global market by type and geography. Current, historic, and forecast of the size of the luxury goods market has been provided in a comprehensive and precise manner, enabling clients to make strategic business decisions. The various growth drivers, restraints, and opportunities have been identified in the study, together with primary interviews and secondary research that ensures accurate and authentic analysis.
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Luxury goods: Global market analysis
Luxury goods comprises wines/champagne and spirits, apparels and leather goods, luxury personal care and cosmetics, luxury watches and jewelry, fragrances, and others (luxury pens, tableware). The luxury goods market has grown significantly in the past decade owing to increase in number of high net-worth individuals, change in lifestyle, higher disposable income, and brand-consciousness. In addition, development of websites, online shopping, social networking campaigns, and mobile applications has fuelled the luxury goods market. Asia-Pacific and Rest of the World are expected to witness strong growth during the forecast period owing to lifestyle changes and influence of fashion trends.
Notable participants of the luxury goods market
The report studies the competitive landscape of the global luxury goods market and analyzes the various market leaders. The study finds that the luxury goods market is highly consolidated in nature and is characterized by mounting mergers and acquisitions. Some of the key players in the luxury goods market are Rolex S.A., Coty, Inc., Graff Diamonds, Avon Products, Inc., The Swatch Group Ltd., Hermes International SCA, LVMH Group, Kering S.A., Burberry Group plc, Prada S.p.A, L’Oreal Group, Tiffany & Co., Compagnie Financière Richemont S.A., and Revlon, Inc.
This industry is primarily constituted of suppliers of raw material and companies that formulate, blend, prepare, and package personal care products. Marketing, branding, and advertising play a major role in the Personal Care market as most market leaders use celebrities as brand ambassadors to target specific consumer segments. The cosmetic industry, specifically, uses the television, magazines, internet and social networking sites to aggressively advertise brands. This form of advertising is the best way to showcase product information in a compelling manner.
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The demand for Personal Care Products is primarily driven by consumer preferences and growth in population. To ensure that consumers consistently prefer their products, it is imperative for personal care product manufacturers to frequently innovate within the product line and add brand new products to their portfolio. High-impact sales and marketing also play a very critical role in the Personal Care Products market.
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