Luxury Goods Retailing in the Americas 2015-2020; Market dynamics, trends and competitive landscape

The luxury goods market in the Americas is forecast to grow at a CAGR of 3.8% during 2015 to 2020. The US is the largest luxury goods retail market in the Americas, accounting for a 91.8% share with a sales of USD 102.1 billion in 2015. Though the US is a mature market, it is expected to observe the highest increase in value sales of USD 20 billion over the next five years driven by economic recovery and thriving demand from aspirational consumers and tourists. However, a stronger US dollar will continue taking its toll resulting in relatively slower growth than that observed in the five years to 2015.

Key Findings

The US is the largest luxury goods retail market in the Americas, accounting for a 91.8% share with sales of USD 102.1 billion in 2015. By 2020, the market is forecast to grow at a CAGR of 3.7% to reach USD 122.2 billion.

Clothing remains to be the largest product category while communications equipment will be the fastest growing category in the region

Weaker currency against the US dollar is attracting tourists to Latin America and Canada which in turn will boost the tourists spend in the luxury goods market

Despite the growing UHNWI population in Brazil, Argentina and Venezuela, strict import regulations, high taxes, economic crises and inflation encourage the affluent to buy luxury goods from other countries when they are travelling to save on huge taxes.

Luxury brands such as Ralph Lauren and Sephora are enhancing in-store customer experiences using digital technology

Synopsis

The “Luxury Goods Retailing in the Americas 2015-2020” report, published by Verdict Research, provides analysis of current and forecast market data for luxury goods retail sales in different product categories across the Americas.

What else does this report offer?

Current market sizes and forecasts to 2020 by country and category; Covers nine countries in the Americas-Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, US and Venezuela and 12 categories, including clothing, consumer electronics, drinks, footwear, homewares, jewelry, watches and accessories, luggage and leather goods, personal care, communication equipment, stationery, tobacco, and others

Market insights based on consumer and retailer trends and changing economic and other macroeconomic factors such as tourists flows and currency fluctuations

Ultra-high net worth individual (UHNWI) analysis by country, 2015 & 2025

Inbound tourists analysis in selected countries, 2010, 2015 & 2020

Luxury goods share of retail sales by category in each country, 2015 & 2020

Competitive landscape covering market share of 10 leading luxury goods retailers in the region and their five year sales and trading update analysis, store counts analysis, recent key events and outlook

Reasons To Buy

Get immediate access to:

Get reliable luxury retail sales data on nine countries in the Americas for 2015 with forecasts for 2020, and identify the largest and fastest-growing markets to inform market expansion and to manage risk

Explore an in-depth analysis of luxury goods retail sales data by country and categories to spot and target key categories in each country, and use to plan growth opportunities and develop strategies for each

Learn from luxury retail trends and market drivers to customize your entry/expansion approach depending on the luxury retail landscape

Make country level comparisons to effectively target new revenue streams and align marketing strategies with the crucial trends influencing luxury spending in the region

Choose partners , understand the competition, with data and analysis of major luxury goods operators in the region, including market shares, trading performance, latest developments, and the outlook for each

Source: https://www.kenresearch.com/consumer-products-and-retail/wholesale-and-retail/luxury-goods-retailing-americas/48907-95.html

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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
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