Market Overview:
The global luxury purchases market is expected to grow at a CAGR of 7.5% during the forecast period 2018-2030. The market is segmented on the basis of type, application and region. On the basis of type, the market is segmented into clothing, footwear, bags, jewelry, watches and others. The clothing segment accounted for major share in 2017 and is projected to grow at a CAGR of 7.8% during the forecast period 2018-2030.
Product Definition:
A luxury purchase is a purchase that is not necessary for one's survival or wellbeing, but rather is seen as a discretionary expense. Luxury purchases can include anything from high-end clothing and jewelry to expensive cars and vacations.
The importance of luxury purchases varies from individual to individual. Some people see luxury items as symbols of status or achievement, while others simply enjoy the finer things in life. Whatever the reason, there is no doubt that spending money on luxuries can provide a sense of pleasure and satisfaction.
Clothing:
Clothing is an article of personal protective equipment that is designed to cover the body. It can be used for both thermal and non-thermal purposes. Thermal clothing such as sweaters, coats, gloves, and hats are used to protect the skin from cold temperatures. Non-thermal clothing such as undergarments, socks, gowns are made from fibers that allow the body heat to dissipate easily without excessive heating.
Footwear:
The global footwear and it's usage in luxury purchases market is expected to witness significant growth over the forecast period. The primary factor driving this market growth is growing middle class population coupled with rising disposable income levels especially in emerging economies of Asia Pacific such as China, India, Malaysia and Vietnam. Growing fashion consciousness among consumers has led to an increase in spending on fashionable apparel including footwear which forms a major part of trendy clothing.
Application Insights:
The global luxury purchases market by application is categorized into offline and online. Offline includes physical or actual transactions where goods are purchased using cash or other legal tender such as cheque, e-wallet, credit card or bank draft. Online applications include e-commerce websites and mobile apps where luxury products are purchased using a digital wallet, virtual currency or credit cards. The growth of the online segment can be attributed to the ease of access to various web stores through a computer/laptop coupled with smart devices like smartphones and tablets that offer an enhanced user experience.
Offline transactions accounted for over 56% share in 2017 owing to high penetration in countries like China, India & Russia followed by offline retailing activities in Europe and North America regions respectively. In these regions traditional brick & mortar shopping malls remain popular destinations for consumers looking for premium brands along with their product offerings at affordable prices compared to internet based retailers globally (excluding Asia Pacific region).
Regional Analysis:
Asia Pacific dominated the global market in 2017. The region is expected to continue its dominance over the forecast period, owing to increasing purchasing power of consumers and rising demand for luxury goods. China is projected to be a key contributor in terms of both volume and revenue throughout the forecast period.
North America accounted for a significant share of global revenue in 2017 due to high disposable income, which enables people to spend on luxury items with greater ease.
Growth Factors:
- Increasing disposable income of the population: The luxury market is growing at a fast pace due to the increase in disposable income of people. This is because people are now able to afford high-priced products and services.
- Rising number of high net worth individuals: There has been a rise in the number of high net worth individuals in recent years, which is driving the growth of the luxury market. These individuals have more money to spend on luxurious items and services.
- Growth in tourism industry: The growth in tourism industry is also contributing to the growth of luxury market as tourists are spending more on luxurious items and services while travelling abroad or within their own country.
- Changing lifestyle trends: There has been a change in lifestyle trends over the past few years, with people now preferring luxurious items and experiences over traditional ones. This is helping drive demand for luxury products and services worldwide . 5) Emerging markets witnessing rapid economic development: Rapid economic development witnessed by emerging markets such as China, India, Brazil etc., is resulting in an increase in purchasing power among their populations, thereby fuelling demand for luxury goods and services
Scope Of The Report
Report Attributes
Report Details
Report Title
Luxury Purchases Market Research Report
By Type
Clothing, Footwear, Bags, Jewelry, Watches, Others
By Application
Offline, Online
By Companies
Gucci, Burberry, Cartier, Louis Vuitton, Dior, Chanel, Hermes, Prada, Bvlgari, COACH, Giorgio Armani, Tiffany, LVMH, The Swatch Group, Michael Kors
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
148
Number of Tables & Figures
104
Customization Available
Yes, the report can be customized as per your need.
Global Luxury Purchases Market Report Segments:
The global Luxury Purchases market is segmented on the basis of:
Types
Clothing, Footwear, Bags, Jewelry, Watches, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Offline, Online
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Gucci
- Burberry
- Cartier
- Louis Vuitton
- Dior
- Chanel
- Hermes
- Prada
- Bvlgari
- COACH
- Giorgio Armani
- Tiffany
- LVMH
- The Swatch Group
- Michael Kors
Highlights of The Luxury Purchases Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Clothing
- Footwear
- Bags
- Jewelry
- Watches
- Others
- By Application:
- Offline
- Online
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Luxury Purchases Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Luxury purchases are items that are typically considered to be of a higher quality than what is typically found in the market. This could include items like expensive clothing, jewelry, cars, or other luxury goods.
Some of the key players operating in the luxury purchases market are Gucci, Burberry, Cartier, Louis Vuitton, Dior, Chanel, Hermes, Prada, Bvlgari, COACH, Giorgio Armani, Tiffany, LVMH, The Swatch Group, Michael Kors.
The luxury purchases market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Luxury Purchases Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Luxury Purchases Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Luxury Purchases Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Luxury Purchases Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Luxury Purchases Market Size & Forecast, 2018-2028
4.5.1 Luxury Purchases Market Size and Y-o-Y Growth
4.5.2 Luxury Purchases Market Absolute $ Opportunity
Chapter 5 Global Luxury Purchases Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Luxury Purchases Market Size Forecast by Type
5.2.1 Clothing
5.2.2 Footwear
5.2.3 Bags
5.2.4 Jewelry
5.2.5 Watches
5.2.6 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Luxury Purchases Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Luxury Purchases Market Size Forecast by Applications
6.2.1 Offline
6.2.2 Online
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Luxury Purchases Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Luxury Purchases Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Luxury Purchases Analysis and Forecast
9.1 Introduction
9.2 North America Luxury Purchases Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Luxury Purchases Market Size Forecast by Type
9.6.1 Clothing
9.6.2 Footwear
9.6.3 Bags
9.6.4 Jewelry
9.6.5 Watches
9.6.6 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Luxury Purchases Market Size Forecast by Applications
9.10.1 Offline
9.10.2 Online
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Luxury Purchases Analysis and Forecast
10.1 Introduction
10.2 Europe Luxury Purchases Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Luxury Purchases Market Size Forecast by Type
10.6.1 Clothing
10.6.2 Footwear
10.6.3 Bags
10.6.4 Jewelry
10.6.5 Watches
10.6.6 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Luxury Purchases Market Size Forecast by Applications
10.10.1 Offline
10.10.2 Online
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Luxury Purchases Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Luxury Purchases Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Luxury Purchases Market Size Forecast by Type
11.6.1 Clothing
11.6.2 Footwear
11.6.3 Bags
11.6.4 Jewelry
11.6.5 Watches
11.6.6 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Luxury Purchases Market Size Forecast by Applications
11.10.1 Offline
11.10.2 Online
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Luxury Purchases Analysis and Forecast
12.1 Introduction
12.2 Latin America Luxury Purchases Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Luxury Purchases Market Size Forecast by Type
12.6.1 Clothing
12.6.2 Footwear
12.6.3 Bags
12.6.4 Jewelry
12.6.5 Watches
12.6.6 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Luxury Purchases Market Size Forecast by Applications
12.10.1 Offline
12.10.2 Online
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Luxury Purchases Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Luxury Purchases Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Luxury Purchases Market Size Forecast by Type
13.6.1 Clothing
13.6.2 Footwear
13.6.3 Bags
13.6.4 Jewelry
13.6.5 Watches
13.6.6 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Luxury Purchases Market Size Forecast by Applications
13.10.1 Offline
13.10.2 Online
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Luxury Purchases Market: Competitive Dashboard
14.2 Global Luxury Purchases Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Gucci
14.3.2 Burberry
14.3.3 Cartier
14.3.4 Louis Vuitton
14.3.5 Dior
14.3.6 Chanel
14.3.7 Hermes
14.3.8 Prada
14.3.9 Bvlgari
14.3.10 COACH
14.3.11 Giorgio Armani
14.3.12 Tiffany
14.3.13 LVMH
14.3.14 The Swatch Group
14.3.15 Michael Kors
