Luxury Goods Worldwide Market Study 201
2012 Luxury Goods Worldwide Market
Study
(11th Edition)
Milan, 15th October 2012
This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent
Executive Summary
WHY
•
The global luxury goods sector has continued to soar to post-crisis heights in 2012, with its third year of double-digit growth
-
Globally, luxury goods sales are expected to reach an estimated €212 billion, with 10 percent growth versus 2011 (5 percent at constant exchange rates)
Accessories are the champion category for 2012. Sales of leather goods and shoes combined are up by 14 percent
Overall luxury, in categories including luxury cars, wine and spirits, hotels, in-home and out-of-home food, home furnishings, and yachts are up nine percent over 2011, to an estimated €750 billion
• Chinese consumers have enormous impact at home and abroad
-
One-in-four global luxury consumers are now Chinese
At €27 billion, Greater China (Mainland, Hong Kong, and Macau) has bypassed Japan as the luxury sector’s second market, behind the United States
Chinese consumers now make half of the luxury purchases in all of Asia, and nearly one third of those in Europe
• The luxury formula is changing more quickly than ever
-
New channels are gaining ground. Ecommerce is growing at 25 percent and off-price (i.e., discount) outlets at 30 percent
Luxury is shifting away from apparel. For the first time this year, leather goods and shoes are the largest piece of the market
Tourism and luxury spending have become tightly intertwined. Tourists now account for 40 percent of global luxury spending
Men are steadily gaining share globally. They now make 41 percent of luxury purchases, up from 35 percent in 1995
2
Luxury consumption spans several categories
Cars
Yachts
Design
Wines &
Spirits
Personal
Luxury
goods
Hospitality
Food
3
Third year in a row of double-digit growth for the personal
Study
(11th Edition)
Milan, 15th October 2012
This information is confidential and was prepared by Bain & Company solely for the use of our client; it is not to be relied on by any 3rd party without Bain's prior written consent
Executive Summary
WHY
•
The global luxury goods sector has continued to soar to post-crisis heights in 2012, with its third year of double-digit growth
-
Globally, luxury goods sales are expected to reach an estimated €212 billion, with 10 percent growth versus 2011 (5 percent at constant exchange rates)
Accessories are the champion category for 2012. Sales of leather goods and shoes combined are up by 14 percent
Overall luxury, in categories including luxury cars, wine and spirits, hotels, in-home and out-of-home food, home furnishings, and yachts are up nine percent over 2011, to an estimated €750 billion
• Chinese consumers have enormous impact at home and abroad
-
One-in-four global luxury consumers are now Chinese
At €27 billion, Greater China (Mainland, Hong Kong, and Macau) has bypassed Japan as the luxury sector’s second market, behind the United States
Chinese consumers now make half of the luxury purchases in all of Asia, and nearly one third of those in Europe
• The luxury formula is changing more quickly than ever
-
New channels are gaining ground. Ecommerce is growing at 25 percent and off-price (i.e., discount) outlets at 30 percent
Luxury is shifting away from apparel. For the first time this year, leather goods and shoes are the largest piece of the market
Tourism and luxury spending have become tightly intertwined. Tourists now account for 40 percent of global luxury spending
Men are steadily gaining share globally. They now make 41 percent of luxury purchases, up from 35 percent in 1995
2
Luxury consumption spans several categories
Cars
Yachts
Design
Wines &
Spirits
Personal
Luxury
goods
Hospitality
Food
3
Third year in a row of double-digit growth for the personal