Aarkstore announce a new report “Global Apparel, Accessories and Luxury Goods Market – Watches the Most Appealing Segment” through its vast collection of market research report.
This report highlights major luxury goods markets (in terms of production and consumption). Report talks about recent industry trends, driving factors, industry forecast and also players profiling. Geographically, it covers United States, China, Japan, Russia and Poland. We have analysed present market trends and future industry outlook to conclude the further opportunities in the market.
The overall luxury goods sector is vast covering apparel, accessories and home decor products. Economic slowdown has affected this sector the most due to the high cost involved but from 2H 10 this market is expected to pick up its growth. Comparatively, the European and Asia-Pacific markets will grow with CAGR of ~% and ~% respectively (2009-2014). In terms of geography Europe leads the global apparel, accessories and luxury goods market, closely followed by Americas and Asia-Pacific.
Market for luxury watches is primarily export driven with Switzerland leading the way followed by Hong Kong and China. Taking the current economic situations, Germans are less keen on expensive watches. Luxury watches market represents the largest segment within the luxury goods market, while luxury cosmetics market is projected to be the fastest growing segment over the analysis period 2007-2015.
Tourism will support further the demand for luxury goods with Europe to continue its leadership position as a producer in the luxury goods industry. The US jewellery market was highly split in the year 2009 with 22,182 retail speciality jewellers across 24,000 doors compared to 26,000 in 2007. The industry witnessed a decline of 5.6% in comparison to 2007.
China has emerged as the top spot for the luxury watches segment in Asia. Swiss brands continued with their dominance in 2008 as well. The domestic market of Japan witnessed luxury boom in the recent years which had a direct effect on the growth of the market. Russia is one of the fastest developing markets, including China and India, which includes cosmetics, cars and yachts, jewelry and watches, food and wine, furniture and accessories and other products.By the end of 2014 market is expected to reach US$ ~ billion driven by diversification of the consumer base, changing consumer habits and values, and growing demand from emerging economies.
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