Men's return to the luxury market a decent recovery
The phenomenal performance of luxury branded accessories, men's return, global market recovery and strong holiday spending throughout 2010 pushed the luxury goods industry to another peak in performance since 2007 before the global economic crisis. According to a new 2011 report by Bain & Fondazione Altagamma, 2010 was a pinnacle of luxury spending, up 12% and 172 billion euros (227 billion U.S. dollars). In the early months of 2011, brands have started to enjoy doubled sales, including retail outlets and wholesale agents. The Chinese market is expected to see a 25% increase this year, with sales in the U.S. market expected to reach 8% through aggressive business strategies in major department stores. The study reflects the positive performance of various luxury goods groups in the first quarter and frequent mergers and acquisitions such as LVMH's acquisition of Bulgari for $ 6 billion. "The good fortunes of the luxury goods industry make more money," said Claudia D'Arpizio, partner at Bain & Company. "Every brand must invest in more emerging markets from the existing market and at the same time invest in retail experience and products to attract new customers and maintain existing customer resources while large groups invest in More brands are included. "According to Bain's estimates, performance in Other parts of Asia will increase by 15% in 2011 and in Europe by 7%. Japan's sales fell 5%, but analysts believe their third-quarter sales to balance the loss of the previous period. This trend is an important basis for expected sales growth of between 5% and 6% for the four-year period from 2011 to 2014, bringing sales of 2140-221 billion euros, equivalent to $ 317.3277.7 billion at constant exchange rates. With the increase of orders in autumn and winter 2011 and the recovery of holiday replenishment demand, Europe and the United States showed strong retail sales in the first quarter of 2011. Japan has been in a slump after the March 11 earthquake, tsunami and nuclear leak, but Japan's market is estimated to recover by the end of the year as the GDP generated by the reconstruction increases. China is expected to show a sustained growth trend. All brands have increased the number of direct sales stores in China, including Russia, the Middle East and Brazil. The United States remained the largest luxury market in 2010, generating sales of up to 48 billion euros (63.31 billion U.S. dollars), followed by Japan with 18 billion euros (23.74 billion U.S. dollars) and China with 17.6 billion euros (23.21 billion U.S. dollars). The number and size of emerging markets have significantly improved. Brazil also generated 1.8 billion Euro (2.37 billion U.S. dollars) in sales in 2010, and its annual consolidated growth rate is expected to reach 10-15%. With sales of 4.8 billion euros (6.33 billion U.S. dollars) in Russia, the compound annual growth rate in the next three years is expected to reach 5% -10%. Middle East sales were 4.1 billion euros ($ 5.41 billion), including Dubai, Abid Dhabi, Doha and Kuwait. The compound annual growth rate of the region should be able to increase 10% to 12%. India is also expected to see 5% -10% sales growth, with the country's luxury goods market reaching 800 million euros (1.05 billion U.S. dollars) in 2010 Research indicates that China is still the region with the fastest sales growth, And within five years will become the world's third largest luxury goods market. In mainland China, sales in 2010 increased by 30% to 9.2 billion euros ($ 12.1 billion) and growth in 2011 is expected to increase by 25%. Second-tier and third-tier cities will be the expansion of luxury brands in mainland China New World, but sales will also be driven by organic growth. Consumers are becoming more professional and mature, and have high loyalty and more refined product requirements, which inevitably leads to a sharp decline in sales of imitation products. In-store shopping experience and after-sales service will be another key success factor. "Chinese luxury consumers spend a lot of time planning purchases and searching the web for as comprehensive information as possible," D'Arpizio said. "Their awareness of the brand continues to improve, and with the information they have learned to the store.Luxury stores to raise the threshold of China's consumption, a better consumer experience, more professional sales staff and a more adequate choice "With the rejuvenation of luxury consumers, there has also been a marked increase in digital marketing investments.
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