Swiss watch exports to UK rise as tourists make most of fall in sterling
Increase taps into surge of visitors to UK, exploiting what has become the cheapest luxury market in the world, say analysts
Luxury spending
Americas region is the king of the luxury goods spending hill
Reversing the trend of recent years, the Americas region is the king of the luxury goods spending hill, estimated to grow at four percent in 2013 versus 2012, surpassing the estimated 2.5 percent growth rate for China, as luxury spending in that country moderates, according to the 12th Edition of Bain’s Luxury Goods … Read more
BRIC countries to account for more than 35% of projected luxury global sales over the next five years
Euromonitor International’s latest research on the global luxury goods market indicates another solid year’s performance for 2013. Driven mainly by strength in emerging economies, overall retail growth is set to be stronger than in 2012, with luxury goods sales to exceed US$318 billion worldwide. This will represent a year-on-year real value gain of over 3% … Read more
Luxury spending is increasingly becoming the domain of Generation Y
A large portion of affluent Generation Y attains their wealth from their parents—but they may not be on track for it in the future, according to Digitas‘ study “Affluence in America: The Next Generation.” Affluent and Aspiring Children spend between two and four times their own income, due to access to their parents’ wealth.Many of … Read more
Chinese government’s luxury spending limited by new rules
No more luxury items, goods or commodities above certain standards in the Chinese government agencies. The Chinese government promulgated a new regulation designed to reduce administrative costs for government and public institutions, informed xinhuanet. The regulation explicitly prohibits government agencies from purchasing luxury items, goods or commodities, as well as defines a frugal working style … Read more
Newly Acquired Taste for Luxury Fashion Results in Win for Premium Retailers
American Express Business Insights Data Show Full-Price Online Luxury Fashion Spending Sizzling The new data released from American Express Business Insights during Mercedes-Benz Fashion Week revealed additional telling shifts in luxury fashion spending both in US and abroad. While young Gen Y consumers are demonstrating a growing hunger for full-priced online luxury, Seniors are showing … Read more