New Market Research for Luxury Goods Shows Industry Will Generate Additional US$74 Billion by 2017
New luxury market research from Euromonitor International indicates that despite the global volatile economic outlook, the luxury goods market continues to prove resilient.
New Market Research Findings Include:
- In 2012, the global luxury market is set to grow by more than seven percent and exceed US$ 302 billion.
- Valued at an estimated US$77 billion in 2012, the US market for luxury goods is by far the largest globally, 2.4 times higher in value than the second-ranked luxury market Japan, with an estimated 2012 value of US$32 billion.
- The four biggest markets – the US, Japan, Italy and France – collectively account for almost half of total luxury goods sales in value terms in 2012.
- BRIC markets account for 11 percent of global luxury sales in 2012 by value, and by 2017, Euromonitor International expects their share to grow to 16 percent.
In the following podcast, Euromonitor International’s Global Head of Luxury Research, Fflur Roberts, discusses the global outlook for the Luxury Goods market.
Download as an MP3