Luxury Brands in Digital Space to Boost Retail Industry in America: Ken Research
·
The US is
the largest luxury merchandise retail market in the Americas
·
Internet based retailing witness the
fastest growth.
Ken
Research announced its most recent publication titled “Luxury Goods Retailing in the Americas 2015-2020;
Market dynamics, trends and competitive landscape,” offers insights on the market dynamics,
current trends and the competitive landscape of the current and forecast market
data for luxury goods retail sales in various product categories across the
America. The report incorporates a shrewd analysis on market insights in light
of consumer and retailer drifts and changing financial and other macroeconomic
factors, for example, tourist flows and currency vacillations. In addition, it
has the comprehensive knowledge on the market share of the ten fastest growing
luxury merchandise retailers in the region and their five year deals and trading
redesign analysis, store count investigation, recent key events and outlook. Ultra-high
net worth individual (UHNWI) analysis and inbound tourists analysis in selected
countries is undertaken. This report Covers nine countries in the America-Argentina,
Brazil, Canada, Chile, Colombia, Mexico, Peru, US and Venezuela which further
includes 12 categories, including clothing, consumer electro- nics, footwear,
jewellery, watches and accessories, luggage and leather goods, personal care,
communication equipment, stationery, tobacco, and others.
Luxury brands in the US stays diverse and
aggressive, with both regional and worldwide players present. Worldwide players
LVMH Moet Hennessy Louis Vuitton SA, Richemont SA and Kering SA kept up their
driving positions, on account of their broad image portfolios, which canvassed
most categories in luxury brands. In addition to worldwide players, local
affordable luxury brands, such as Ralph Lauren, Michael Kors, Coach, Kate Spade
and Tory Burch likewise kept on driving sales in the competitive landscape of
US extravagance products. While they are the most desired brands among regional
luxury customers, these also pulled in numerous luxury foreign visitors.
The existence of web based retailing and marketing
turned out to be critical. Luxury brands and retailers are progressively
putting resources into online business to pull in tech-savvy buyers and capture
more sales. As luxury brands have a tendency to have less retail outlets than
mass brands, web based retailing helps luxury brands to reach both new and
existing clients who can't visit physical stores. With the developing
penetration of cell phones, m-commerce is likewise turning into a key
distribution channel despite the fact that its retail shares stayed little in
luxury brands.
It is evaluated that Chinese travellers spent as
much as US$117 billion on individual luxury merchandise in 2015, representing
33% of all purchases universally. Of this US$117 billion the only us
represented 78% of aggregate abroad utilization by Chinese buyers. High import
assesses inside China were a major motivator – a similar luxury handbag can
cost a third more in Beijing than in Paris.
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Related Reports
Contact:
Ankur Gupta, Head Marketing & Communications
query@kenresearch.com
+91-124-4230204
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