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Allied Market Research

Personal Luxury Goods Market Type (Accessories, Apparel, Hard Luxury, Cosmetics, Others) End User (Female, Male) : Global Opportunity Analysis and Industry Forecast, 2020-2027

A07936
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Aug 2021 | 1034 Views
   
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COVID-19

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The personal luxury goods consist of luxury items that are used for personal grooming, fashion, and other personal care. Personal luxury goods can vary from person to person, income group, perception about the luxury product and the comfort and pleasure the consumers gets from the product. When seen on a broader concept personal luxury goods are finest quality products having premium value attached to them. The luxury goods have proportionate demand depending on the income of the potential buyers.

Market scope and structure analysis:

                 Report Metric

                                        Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units

  Value ($US)

  Segments covered

  Type, Application, Industry Vertical, and Region

  Regions covered

North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)

  Companies covered

KERING, Loreal S.A., Richemont, Christian Dior, Luxottica, LVMH, Ralph Lauren, Breitling, Burberry, Chanel and Coach and The Estée Lauder Companies Inc.

 

COVID-19 Scenario Analysis: 

  • There has been a high impact on the manufacturers as the raw material such as leather and cotton supply has been affected due to the unavailability of transport facilities from one country to another.
  • The demand for most of the goods has decreased as being a non-essential item and consumers are now more focused on health-related goods.
  • Once the lockdown and COVID-19 scenario end there will be a steady rise in the market and gradually the consumers will start buying the personal luxury goods.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Increase in preference of millennials and rise in the income of mid-segment consumers hence increasing the disposable income of the segment has increased the demand for personal luxury goods. In addition, rise in skin problems such as acne, dark spots, and sunburn due to pollution and environmental changes the consumers are moving towards premium cosmetic and skincare products which contain high-quality ingredients for better action on the skin problems and contains natural ingredients boost the global personal luxury goods market. Moreover, consumers' growing income has become one of the rising factors with the willingness to pay for advanced and premium quality products for personal use. The companies are making innovation in the skincare range and some other accessories to make more premium level goods and cater to various demands and sell differentiated products to their consumers. The online sales channel and brand awareness through promotions and social media campaigns by celebrities and the consumers following the trends and lifestyle of their idols and celebrities are some other factors that affect the demand for personal luxury goods. 

The global personal luxury goods market trends are as follows:

Mass customization to fulfills the varying demand

Personal luxury goods buyers always have a desire to stand apart from the rest of the crowd and want their premium product to be unique. The luxury brands have come up with new platforms where the customer can design their shoes, clothes, accessories in an application provided by the brand, and the price is set as per the requirement mentioned by the customer.

Asia-Pacific has the majority market growth

The Asia-Pacific countries with growing economies the people are more tempted toward buying luxury goods as there has been a high rise in disposable income. China is the highest contributor in the market share of Asia-Pacific and is growing at an all-time high in terms of revenue collection. The other Asia-Pacific countries like India, South Korea, and Indonesia are also demanding luxury goods with a rise in their economy. 

Key Segments Covered:

                Segments

                                 Sub-segments

  Type

  • Accessories
  • Apparel
  • Hard Luxury
  • Cosmetics
  • Others

  End User

  • Female
  • Male

  Distribution Channel

  • Exclusive Retail Store
  • Supermarket
  • E-commerce Sites

 

Key Benefits of the Report:

  • This study presents the analytical depiction of the global personal luxury goods industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global personal luxury goods market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global personal luxury goods market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global personal luxury goods market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions Answered in the Personal Luxury Goods Market Research Report:

  • What are the leading market players active in the personal luxury goods market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
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