Luxury Market Overview Luxury Goods Brand Routes Euromonitor International

2011: Has the luxury market recovered?

The luxury market of 2011 still bears the marks of the recent global recession. Two years of declining growth in 2008
and 2009 forced manufacturers and shoppers alike to reconsider their established habits, with luxury brand
distribution left struggling to find a happy balance between the two.
2010 brought better news, with a 4% rebound across the 26 markets that account for 80% of global sales, albeit
against a changed market landscape:
Bling and aspirational luxury is out, but value, it seems, is only rarely defined by price; brand equity is paramount;
China, India and other emerging markets are firmly established as the focus for growth, while Germany looks set to
join Japan in a long-term decline;
The consumer base is becoming younger, driven by a new generation of white-collar workers in emerging markets;
New technologies are changing how consumers approach luxury brands; the influence of the internet and social
networking is unavoidable and brands are looking to widen their presence online;
Manufacturer/retailer relationships have lost an element of trust, with more brands migrating to owned stores.
By 2015, the market is expected to have returned to steady growth, with emerging markets accounting for one fifth of
global sales. The challenge for luxury brands and retailers alike is to expand distribution to reach these new
consumers, using new technologies, without losing the aura of exclusivity that luxury depends upon.
Global Luxury Markets: Developed vs Emerging 2005-2015
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Luxury Market Overview Luxury Goods Brand Routes Euromonitor International
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Luxury goods categories differing sales performance

Luxury Goods Categories: Sales 2010 versus Developed/Emerging Market
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