Summary The luxury goods market in the Americas is forecast to grow at a CAGR of 3.8% during 2015 to 2020. The US is the largest luxury goods retail market in the Americas, accounting for a 91.8% share with a sales of US$102.1 billion in 2015. Though the US is a mature market, it is expected to observe the highest increase in value sales of US$20 billion over the next five years driven by economic recovery and thriving demand from aspirational consumers and tourists. However, a stronger US dollar will continue taking its toll resulting in relatively slower growth than that observed in the five years to 2015.
Key Findings - The US is the largest luxury goods retail market in the Americas, accounting for a 91.8% share with sales of US$102.1 billion in 2015. By 2020, the market is forecast to grow at a CAGR of 3.7% to reach US$122.2 billion.
- Clothing remains to be the largest product category while communications equipment will be the fastest growing category in the region
- Weaker currency against the US dollar is attracting tourists to Latin America and Canada which in turn will boost the tourists spend in the luxury goods market
- Despite the growing UHNWI population in Brazil, Argentina and Venezuela, strict import regulations, high taxes, economic crises and inflation encourage the affluent to buy luxury goods from other countries when they are travelling to save on huge taxes.
- Luxury brands such as Ralph Lauren and Sephora are enhancing in-store customer experiences using digital technology
Synopsis The “Luxury Goods Retailing in the Americas 2015-2020” report, published by Verdict Research, provides analysis of current and forecast market data for luxury goods retail sales in different product categories across the Americas.
What else does this report offer?
- Current market sizes and forecasts to 2020 by country and category; Covers nine countries in the Americas - Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, US and Venezuela and 12 categories, including clothing, consumer electronics, drinks, footwear, homewares, jewelry, watches and accessories, luggage and leather goods, personal care, communication equipment, stationery, tobacco, and others
- Market insights based on consumer and retailer trends and changing economic and other macroeconomic factors such as tourists flows and currency fluctuations
- Ultra-high net worth individual (UHNWI) analysis by country, 2015 and 2025
- Inbound tourists analysis in selected countries, 2010, 2015 and 2020
- Luxury goods share of retail sales by category in each country, 2015 and 2020
- Competitive landscape covering market share of 10 leading luxury goods retailers in the region and their five year sales and trading update analysis, store counts analysis, recent key events and outlook
Reasons To Buy Get immediate access to: - Get reliable luxury retail sales data on nine countries in the Americas for 2015 with forecasts for 2020, and identify the largest and fastest-growing markets to inform market expansion and to manage risk
- Explore an in-depth analysis of luxury goods retail sales data by country and categories to spot and target key categories in each country, and use to plan growth opportunities and develop strategies for each
- Learn from luxury retail trends and market drivers to customize your entry/expansion approach depending on the luxury retail landscape
- Make country level comparisons to effectively target new revenue streams and align marketing strategies with the crucial trends influencing luxury spending in the region
- Choose partners , understand the competition, with data and analysis of major luxury goods operators in the region, including market shares, trading performance, latest developments, and the outlook for each
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