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June 19, 2015

Tequila: A New Force in Luxury Spirits

Rob WalkerAnalyst Insight by Rob Walker - Contributing Analyst

Most people associate luxury spirits with prestige brands of whisky or cognac, and they would be right. Last year, those two subcategories accounted for 45% of the global retail sales value of luxury spirits, according to the latest data from Euromonitor International. However, some of the most disruptive market momentum in luxury spirits is coming not from whisky or cognac, but from Mexico’s agave-based spirit, tequila.

In the eyes of many, tequila is an unlikely luxury product. As a category, it has often struggled in Western markets because of a rather boozy, head-banging image. Yet, tequila has been reinventing itself of late, driven by a growing number of super-premium boutique brands that are more about sipping and savouring than slamming. It helps too that a cluster of these brands are owned, or part-owned, by big-name celebrities, including George Clooney, P Diddy (Sean Combs) and Justin Timberlake. In the US especially, high-end tequilas are now among the fastest-growing brands in luxury alcoholic drinks.

Luxury Spirits: Share of Global Retail Value by Subcategory 2014

Spirits-Share

Source: Euromonitor International

Note:  Shares based on global retail sales in US dollars at fixed 2014 exchange rates

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May 29, 2015

Fashion Friday – Fashion Brands Embracing Digital Presence

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Visual merchandising outside of retail outlets has become increasingly important for luxury brands.  In this respect, social media has provided a valuable advertising channel, particularly in emerging markets as mobile internet penetration sees rapid growth.  Listen to the podcast for complete insights.

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May 19, 2015

Euromonitor to Speak at LuxuryLab.MX 2015

Logo-Luxurylab-globalEvent: LUXURYLAB.MX
 
Location: Hotel St. Regis, Mexico City, Mexico
 
Date: June 8, 2015
 
Speaker: Fflur Roberts, Head of Luxury at Euromonitor International
 
Event Description: Since 2011, LUXURYLAB.MX meets in the City of Mexico to the best national and international professionals of the sector of luxury to share knowledge and research, to increase the professional networks and generate synergies between the companies in the high-end market: fashion, jewels, watches, wine & spirits, tourism and lifestyle.
 

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May 14, 2015

Luxury Brands Embrace the Digital Age

Bernadette-KissaneAnalyst Insight by Bernadette Kissane - Apparel and Footwear Research Associate

View Bernadette Kissane's profile on LinkedIn

The WWD Digital Forum London, which took place on 30 April 2015, brought together a selected group of brand thought-leaders and innovators from across fashion, beauty and retail to share ideas on the most pertinent issues businesses face in this ever-evolving digital landscape.

In this first recap, Euromonitor International assesses the differing digital strategies of global fashion house Gucci, the iconic British department store Harvey Nichols and leading e-commerce player Matchesfashion.com.

Harvey Nichols and Gucci: Bridging the gap between online and in-store

According to Sandrine Deveaux, Multichannel Director at Harvey Nichols, it is not a simple case of digital stealing share from physical retailing but rather an interaction between the two that has been accelerated by the use of smartphones. Barbara Rybka, Senior VP, Digital at Gucci, similarly stated “mobile is powerful and we’re viewing it as a bridge between online and in-store”. Although online accounts for a small proportion of sales in comparison to offline, both agreed that the influence of digital is significant, with eight out of 10 affluent shoppers researching online before purchasing.

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May 12, 2015

Brazil's Business Environment: Consumption in Economic Slowdown

250_brazilBusiness-v1.0On the surface, Brazil looks like an attractive market. It is the seventh largest global economy and has a population of 200 million, with high consumer expenditure and high demand for commodities.
But Brazilians are spending less, industrial confidence is deteriorating, and inflation is rising, meaning a future of slow growth and economic recovery.

Consumer goods companies operating in Brazil need to adapt their strategy to integrate the global market place. What are the reasons behind this slowdown and how can organisations work it to their advantage? 

Download our white paper today to learn:

› How Brazil’s rapid currency depreciation has affected its economy and consumers 

› Which consumer industries are slowing down and which have new opportunities

› Why the middle class is changing Brazil’s economic landscape

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April 30, 2015

Is it Time to Redefine Luxury?

Daphne KasrielAnalyst Insight by Daphne Kasriel-Alexander - Consumer Trends Consultant

A brand new exhibition at London’s Victoria & Albert Museum is striving to define luxury today and to predict its possible future. “What is Luxury?” showcases 100 objects, old and new. At a time when museums are boldly linking art with fashion and culture, this exhibition joins the current debate on whether luxury consumption is heading away from a bling-tinged consumption fest of material goods towards the pursuit of intangibles such as discovery – expressed in travel, for instance. It also highlights how luxury goods are influenced by tech-led processes and outlooks rather than nostalgia-focussed craftsmanship alone, despite what luxury marketing campaigns have been emphasising. While status symbols and showing off possessions remain important, luxury consumers globally are more sophisticated, with high-end purchases now more about demonstrating knowledge and taste in what you buy.“There was such a narrow discourse about luxury that just focused on brands, the industry and the market, we felt it was time to reopen discussion,” said Jana Scholze, the exhibition’s co-curator. “Luxury is shifting to something that is not simply focused on consumption”.  

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April 28, 2015

Challenges and Opportunities in Targeting the Senior Consumer

250_seniorConsumer-v1.0The senior market is a lucrative market to explore. The population over 60 stood at 912 million in 2014, representing 12.6 percent of the global population. By 2030, this segment will account for 18 percent, reaching 1.5 billion globally. While China is the fastest growing ageing market with over 60s forecast to grow by more than 46 percent between 2014 and 2030, Japan has the oldest population, with a massive 33 percent aged over 60. Japan is a model on the impact of this demographic shift, showing the effects of different methods of governmental intervention and product development opportunities.

 

 

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Key findings:

  • E-health, home assistance and elderly-friendly services will drive technology developments in the senior market, with health being the most dynamic consumer expenditure category through 2030.

  • Efficacy and natural features remain key features when it comes to marketing beauty products to the over 60s.

  • Demand for luxury goods focusing on heritage and craftsmanship is popular among senior consumers.

  • As senior consumers usually invest in timeless, quality clothing, an older population will have a negative impact on sales volume in the apparel market.

  • Presbyopia represents a key market driver in eyewear.

April 24, 2015

Fashion Friday: Digital Strategies in Luxury and Beauty

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This podcast discusses the key pillars for a successful digital strategy in the beauty and luxury industries, the importance of consumer engagement and inspirational content, and developments in the personalisation/customisation trend.  Listen for complete insights.

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March 4, 2015

The Rising Power of Female Consumers

Female-Consumer-Banner

The global female population totalled an estimated 3.6 billion in 2014 and is expected to reach 4.2 billion by 2030. Average disposable income amongst women is the highest it's ever been, and women are living longer than men.

What are you doing to reach this growing market?

Recording
View now to learn:

  • The size and distribution of the female consumer market
  • Literacy and education rates
  • Labour participation
  • Purchasing power

 

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February 8, 2015

Euromonitor participa da primeira LuxuryLab.BR

LuxuryLabBR

Evento: LuxuryLab.BR

Data: 16 de Março de 2015

Localização: Hotel Unique, São Paulo, Brasil

Descrição do evento: “O LuxuryLab.MX é um Summit de luxo que acontece desde 2011 e tem a troca de experiências como seu objetivo principal. Foi consagrado como o evento de inteligência e tendências do mercado de luxo mais importante da América Latina e se destaca como o espaço onde os líderes da indústria têm acesso às informações mais atuais e relevantes sobre tendências,  luxo sustentável e estatísticas do mercado internacional. Assim como no México, o LUXURYLAB.BR receberá 200 participantes, entre presidentes e alto executivos de importantes empresas do segmento Premium e acontecerá no dia 16 de março de 2015 no Hotel Unique, em São Paulo.”

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Recent Posts

Tequila: A New Force in Luxury Spirits

Fashion Friday – Fashion Brands Embracing Digital Presence

Euromonitor to Speak at LuxuryLab.MX 2015

Luxury Brands Embrace the Digital Age

Brazil's Business Environment: Consumption in Economic Slowdown

Is it Time to Redefine Luxury?

Challenges and Opportunities in Targeting the Senior Consumer

Fashion Friday: Digital Strategies in Luxury and Beauty

The Rising Power of Female Consumers

Euromonitor participa da primeira LuxuryLab.BR