Personal Luxury Goods Market in the US 2015-2019

Published: Oct 2015 Pages: 75 SKU: IRTNTR7399

Overview of the personal luxury goods market in the US

Technavio’s research analyst predicts the personal luxury goods market in the US to grow at a CAGR of 5% during the forecast period. The growth in the US market is driven by the tourist spending in the country and the substantial disposable income of US citizens.

The adoption of the omni-channel distribution by vendors is expected to fuel the market growth during the forecast period. Consumers prefer to study the trends in online communities and buy from a store that guarantees the authentic buying experience and quality. This trend is likely to drive more footfall in-store, higher conversion rates and improve brand loyalty.

Product segmentation and analysis of the personal luxury goods market in the US

  • Accessories
  • Apparels
  • Hard luxury
  • Fragrance and cosmetics

The accessories segment dominated the market during 2014 and is expected to attain a market value of USD 34 billion by the end of 2019. The growing consumer affluence, new product launches and changing fashion trends are driving the market growth in the US.

Segmentation by distribution channel and analysis of the personal luxury goods market in the US

  • Retail
  • Online
  • Airport shops

The retail channel dominated the market during 2014 with a market share of 88% and is predicted to attain a market value of USD 85 billion by the end of 2019.

Competitive landscape and key vendors

The providers in the personal luxury goods market in the US compete on the basis of their global presence, staff expertise, production quality, and designing and marketing. The report predicts the key vendors in the US market to witness a reduction in their market shares due to increasing competition from other Europeans and American brands.

The leading vendors in the market are -

  • Christian Dior
  • Estée Lauder
  • Loreal
  • Luxottica
  • LVMH
  • Ralph Lauren

Other prominent vendors in the market include Burberry, Breitling, Chanel, Coach, Giorgio Armani, Kate Spade, Kering, Nina Ricci, Prada, Richemont, Swatch, Tiffany, and Valentino.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2019?
  • What are the key factors driving the personal luxury goods market in the US?
  • What are the key market trends impacting the growth of the personal luxury goods market in the US?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the vendors in the personal luxury goods market in the US?
  • What are the key outcomes of the five forces analysis of the personal luxury goods market in the US?

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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