Abstract: - Boxed in with wealth erosion and discretionary income reduction among the rich and the middle class, the watches & clocks market is expected to decline by -7.8% in the year 2020 before recovering to reach a revised market size of US$73.3 billion by the year 2027. A few weeks into the pandemic, billionaires...
Consumer spending on luxury goods continues to undergo unprecedented levels of channel shifts due to the long-term effects of the Coronavirus (COVID-19) pandemic and there is no doubt that the outbreak will be seen as a catalyst for a stronger move towards digitalisation in retail. Where Consumers Shop for Luxury Goods global briefing...
Project Details: - StrategyR - A Trademark of Global Industry Analysts, Inc. - Project Edition: 18 - Influencer Pool: 1841 - MarketGlass™ Platform - Our influencer driven interactive research platform draws from unique perspectives of participating executives from featured companies....
Consumers of luxury jewellery like to inspect products and even try them on in physical stores prior to purchasing, as well as receive advice from qualified sales consultants. Department stores and watch and jewellery specialist retailers are therefore the main channel for these products in Mexico. However, these outlets were forced to close...
Fine wines/champagne and spirits saw a strong double-digit current value decline in 2020, and an even stronger retail volume decline, after seeing solid increases during the previous years of the forecast period. A national ban on the trading of alcohol was put in place by the South African government in the first half of the year due to COVID-19. Fine...
After seeing both retail volume and current value growth for several years, luxury timepieces turned to strong decline in volume terms in 2020, with a slightly slower current value decline due to price rises. In order to stop the spread of COVID-19 in the country, the government implemented a hard lockdown. Amongst other measures, stores selling...
Although designer apparel and footwear had been seeing retail volume declines for several years, in 2020 sales plummeted, with a slower decline in current value terms due to price rises. Declines were seen in all categories, which can be attributed mainly to the closure of all apparel and footwear stores, including luxury stores, during the...
After seeing dynamic growth during most of the review period, luxury leather goods turned to strong decline in retail current value terms in 2020. Meanwhile, although volume sales had already seen slight falls in the previous three years, in 2020 sales plummeted. Nevertheless, the allure of luxury handbags was strong enough to keep the volume...
Although luxury jewellery saw retail volume declines for most of the review period, they were insignificant compared with the fall in sales seen in 2020. Meanwhile, current value sales fell from growth in 2019 to a double-digit decline in 2020. The main reason for this poor performance was the closure of luxury jewellery stores during the...
The lockdown measurers due to the Covid-19 pandemic forced all car dealerships to close for an extended period during the first half of 2020. In response to this, many luxury car players focused their efforts on engaging consumers online and enabling the traditionally high-touch, physical sales process to be done in an online environment. Premium...