Retail Industry Luxury Trends Survey 2015-2016

Retail Industry Luxury Trends Survey 2015-2016

Code: CON-RT4590PR | Published: Dec-2015 | Pages: 59 | Conlumino
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Even though the highest share of respondents purchased luxury brand items from retail stores operating in their home countries, customers confirmed that offering products at discounted and duty-free prices will definitely motivate them to shop when they are traveling abroad. Similarly, expanding the e-commerce portfolio of products will drive customers to also purchase luxury items online. Moreover, growth in luxury items is gradually shifting towards emerging markets across all product categories. As a result, luxury brand companies are taking advantage of evolving technological and consumer demands to identify factors driving the purchase of luxury items from international locations, and also to help boost profits and remain competitive.

Key Findings
- The majority of respondents were more likely to buy clothing from Ralph Lauren/Polo and Victoria's Secret brands

- The highest percentage of respondents bought luggage and leather goods products from Tumi and Louis Vuitton

- Estee Lauder, Qeelin, and Volcom products were mostly bought from department stores in the home country (where the executives reside)

- Regardless of gender, Adidas is the most popular brand for respondents, and is mainly bought from brand stores in their home country

- Availability at discounted/sale price is the key motivating factor for respondents to purchase items from the luxury brands

Synopsis
Conlumino's Retail Industry Luxury Trends Survey 2015-2016 report examines luxury retail spending habits over the past 12 months and highlights key factors influencing customers' purchasing preferences for luxury brands and the channels through which they purchase these brands. It also analyzes customer spending patterns towards luxury brand categories, the impetus behind purchasing these luxury brands, and the reasons for purchasing these brands abroad. Additionally, it provides information categorized by gender, age, and annual income.

What else does this report offer?

- Preferred channels for purchase: highlights respondents' list of luxury brands purchased over the last 12 months through various channels

- Favorite luxury product range: examines respondents' luxury product range purchased under selected brands

- Expenditure: analyzes average expenditure on luxury brand product categories purchased by respondents last year

- Key motivational factors: identifies key motivational factors influencing respondents to purchase luxury brands

- Popular regions for purchase: provides information about popular regions selected by respondents for purchasing their favorite luxury brands

- Preferred countries for purchase: determines respondents' preferred countries for purchasing luxury products over the last 12 months

- Reasons for purchase from international locations: evaluates key factors driving the purchase of luxury items from international locations

Reasons To Buy
- Highlights trends that will impact luxury retail future prospects and help retail operators to realign business strategy

- Assist in the development or adjustment of business expansion plans by providing information about the popular brands, preferred sales channels, and favorite overseas locations selected by customers for purchasing luxury brands last year

- Helps retail companies to overcome obstacles in sales by demonstrating key motivational factors influencing customers to purchase luxury brands

- Highlights the growth prospects of luxury brands across various product categories, which will allow retail operators to boost revenues by focusing on select products

Table of Contents

1 Introduction
1.1 Definitions
1.2 Methodology
2 Luxury Retail Trends and Purchasing Pattern
2.1 Luxury product range purchased under selected brands (overall)
2.1.1 The majority of respondents were more likely to buy clothing from Ralph Lauren/Polo and Victoria's Secret brands
2.1.2 Of those respondents that bought Sunglasses, 89% purchased them from the Sunglass Hut
2.1.3 Of respondents, 65% bought footwear products from Adidas
2.1.4 Of respondents, 90% bought jewelry, watches, and accessories from Swarovski while 89% of respondents bought from Swatch
2.1.5 The highest percentage of respondents bought luggage and leather goods products from Tumi and Louis Vuitton
2.1.6 Estee Lauder, Clarins, and L'Oreal Luxe are the most preferred brands for respondents who shopped for personal care products
2.1.7 The highest percentage of respondents bought Montblanc products when they shopped for stationery and cards
2.1.8 Analysis of responses on the basis of product category - listed in alphabetical order
2.2 Luxury brands purchased over the last 12 months through various channels
2.2.1 Just over half of respondents were more likely to buy Harry Rosen and Pandora products from a store in their home country than abroad
2.2.2 Estee Lauder, Qeelin, and Volcom products were mostly bought from department stores in the home country (where the executives reside)
2.2.3 Patek Philippe is the most preferred brand for respondents who shopped from other stores in the home country
2.2.4 Of those respondents that bought Louis Vuitton products over the past year, 30% purchased them from a brand store abroad
2.2.5 Of respondents, 27% bought Piaget products from a department store abroad over the past year
2.2.6 Of those respondents that bought Emilio Pucci and Balenciaga products over the past year, 15% purchased them from other stores operating abroad
2.2.7 Of respondents, 14% bought online from the brand's website
2.2.8 The highest percentage of respondents bought Berluti products online from other sites over the past year
2.2.9 Chanel, Clarins, and Givenchy are the most preferred brands for respondents who shopped from duty free stores
2.2.10 Analysis of responses on the basis of purchasing channel - listed in alphabetical order
2.2.11 Regardless of gender, Adidas is the most popular brand, and is mainly purchased from brand stores in the home country
2.2.12 Adidas is the most popular brand for 25-54s, followed by Ralph Lauren/Polo. Adidas is also starting to show universal appeal for the 55 and overs
2.2.13 The top four brands appeal to all incomes up to US$80,000; mainly those purchasing from home country stores
2.2.14 Hugo Boss has a high percentage of respondents (21%) in the US$150K+ bracket who say they buy goods from department stores abroad
2.3 Luxury product range purchased under selected brands (by gender, age, and annual income)
2.3.1 Ralph Lauren was the most popular clothing brand males, and Puma and Adidas were the most popular footwear brands
2.3.2 The highest percentage of female respondents purchased personal care products from L'OrEal Luxe, Estee Lauder, and Clarins
2.3.3 Overall, 89% of respondents within the 25-54 age group shopped for sunglasses from the Sunglass Hut brand
2.3.4 Clothing and personal care are the most popular luxury products for the 55 and overs
2.3.5 Victoria's Secret and Ralph Lauren/Polo are the top two clothing brands that appeal to respondents with income less than US$40,000
2.3.6 Jewelry is popular with those earning US$40,001-US$80,000, as well as clothing and personal care
2.3.7 Those earning US$80,000-US$150,000 buy from a wide range of clothing brands as well as luggage, jewelry and personal care
2.3.8 Over the past year, 87% of respondents with income more than US$150,000 purchased jewelry, watches, and accessories from Tiffany and Co.
2.4 Expenditure on luxury brand product categories
2.4.1 Overall, 54% and 52% of respondents spend between US$101and US$400 on sunglasses and footwear respectively
2.5 Key motivational factors influencing purchase of luxury brands
2.5.1 Availability at discounted/sale price is the key motivating factor for respondents to purchase items from luxury brands
2.6 Popular regions for purchase of luxury brands
2.6.1 Of those respondents that bought the Louis Vuitton brand abroad over the past year, 61% bought it in Europe
2.7 Preferred countries for purchase of luxury products over the last 12 months
2.7.1 Of those respondents that bought Ralph Lauren/Polo products over the past year, 25% bought them from the stores operating in the US
2.7.2 Of respondents, 22% bought Armani/Emporio Armani/Armani Jeans/Armani AX products from stores operating in the UAE over the past year
2.7.3 Of those respondents that bought Michael Kors products over the past year, 25% bought them from China
2.7.4 Tommy Hilfiger is the most preferred brand for respondents who shopped from stores operating in the Netherlands over the past 12 months
2.8 Factors driving purchase of luxury items from international locations
2.8.1 Overall, 19% of respondents state that they purchase Adidas products abroad, as the brand is much cheaper than at home because of lower duty/taxes
2.8.2 In total, 17% of respondents identify unavailability of the Victoria's Secret brand in their home country as the key reason they purchase abroad
3 Respondent Profile and Sample Size
3.1 Profile of respondents
4 Conlumino
4.1 About Conlumino

List of Figures


Figure 1: Top 10 luxury brands preferred while shopped for clothing over the last 12 months
Figure 2: Top 10 luxury brands preferred while shopped for sunglasses over the last 12 months
Figure 3: Top 10 luxury brands preferred while shopped for footwear over the last 12 months
Figure 4: Top 10 luxury brands preferred while shopped for jewelry, watches and accessories over the last 12 months
Figure 5: Top 10 luxury brands preferred while shopped for luggage and leather goods over the last 12 months
Figure 6: Top 10 luxury brands preferred while shopped for personal care over the last 12 months
Figure 7: Top 10 luxury brands preferred while shopped for stationery and cards over the last 12 months
Figure 8: Luxury product range purchased under selected brands - Overall - A
Figure 9: Luxury product range purchased under selected brands - Overall - B
Figure 10: Luxury product range purchased under selected brands - Overall - C
Figure 11: Luxury product range purchased under selected brands - Overall - D
Figure 12: Luxury product range purchased under selected brands - Overall - E
Figure 13: Luxury product range purchased under selected brands - Overall - F
Figure 14: Top 10 luxury brands purchased over the last 12 months through brand store- home country
Figure 15: Top 10 luxury brands purchased over the last 12 months through department store- home country
Figure 16: Top 10 luxury brands purchased over the last 12 months through other store- home country
Figure 17: Top 10 luxury brands purchased over the last 12 months through brand store- abroad
Figure 18: Top 10 luxury brands purchased over the last 12 months through department store- abroad
Figure 19: Top 10 luxury brands purchased over the last 12 months through other store- abroad
Figure 20: Top 10 luxury brands purchased over the last 12 months through online from brand site
Figure 21: Top 10 luxury brands purchased over the last 12 months through online other site
Figure 22: Top 10 luxury brands purchased over the last 12 months through duty Free
Figure 23: Luxury brands purchased over the last 12 months through various channels - Overall - A
Figure 24: Luxury brands purchased over the last 12 months through various channels - Overall - B
Figure 25: Luxury brands purchased over the last 12 months through various channels - Overall - C
Figure 26: Luxury brands purchased over the last 12 months through various channels - Overall - D
Figure 27: Luxury brands purchased over the last 12 months through various channels - Overall - E
Figure 28: Luxury brands purchased over the last 12 months through various channels - Overall - F
Figure 29: Top 5 luxury brands purchased over the last 12 months through various channels - Gender
Figure 30: Top 5 luxury brands purchased over the last 12 months through various channels - Age
Figure 31: Top 5 luxury brands purchased over the last 12 months through various channels - Annual Income - A
Figure 32: Top 5 luxury brands purchased over the last 12 months through various channels - Annual Income - B
Figure 33: Luxury product range purchased by top 20 brands - Gender - A
Figure 34: Luxury product range purchased by top 20 brands - Gender - B
Figure 35: Luxury product range purchased by top 20 brands - Age - A
Figure 36: Luxury product range purchased by top 20 brands - Age - B
Figure 37: Luxury product range purchased by top 20 brands - Annual Income - A
Figure 38: Luxury product range purchased by top 20 brands - Annual Income - B
Figure 39: Luxury product range purchased by top 20 brands - Annual Income - C
Figure 40: Luxury product range purchased by top 20 brands - Annual Income - D
Figure 41: Expenditure on luxury brand product categories - Overall
Figure 42: Key motivational factors influencing purchase of luxury brands - Overall
Figure 43: Popular regions for purchase of luxury brands - Overall
Figure 44: Preferred countries for purchase of luxury products over the last 12 months - Overall - A
Figure 45: Preferred countries for purchase of luxury products over the last 12 months - Overall - B
Figure 46: Preferred countries for purchase of luxury products over the last 12 months - Overall - C
Figure 47: Preferred countries for purchase of luxury products over the last 12 months - Overall - D
Figure 48: Factors driving purchase of luxury items from international locations - Overall - A
Figure 49: Factors driving purchase of luxury items from international locations - Overall - B
Figure 50: Respondent Profile - A
Figure 51: Respondent Profile - B

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