APAC Luxury Goods Market (Retail) to hit $134.9 Billion by 2019

PUNE, India, October 1, 2015 /PRNewswire/ --

Luxury Goods Retailing Market in Asia-Pacific, 2014-2019 Market and Category Expenditure and Forecasts, Trends, and Competitive Landscape report says Japan will remain the largest luxury goods market in APAC, amid slowdown in China.

Complete report on luxury goods market (retailing) in Asia Pacific spread across 82 pages, mentioning 10 companies, covering 12 categories' information for 12 countries and supported with 80 figures is now available at http://www.reportsnreports.com/reports/420734-luxury-goods-retailing-in-asia-pacific-2014-2019-market-and-category-expenditure-and-forecasts-trends-and-competitive-landscape.html .

The "Luxury Goods Retailing in Asia-Pacific, 2014-2019" report provides a comprehensive view of the luxury goods market landscape in Asia-Pacific. It includes information and data for current market sizes and forecasts to 2019 by country and category. Covers 12 countries in Asia-Pacific Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, South Korea, Thailand and 12 categories Clothing, Jewelry, watches and accessories, Drinks, Personal care, Home furniture and Homewares, Luggage and leather goods, Footwear, Communications equipment, Tobacco, Stationery, Consumer electronics and Others. The research highlights APAC luxury goods market and it's fastest growing regions for the categories, provides market data by categories and penetration of luxury retail sales in total retail sales and details market size forecasts for each country in Asia-Pacific, and features major luxury brands, mergers and acquisitions and luxury retail trends.

In the historic period, luxury goods retail sales in the Asia-Pacific region grew significantly, driven by growing sales in emerging luxury markets. However, the economic slowdown in China reduced Chinese spending on luxury goods, resulting in a decline in sales in China in 2014, and the slow growth of luxury retail sales across the region. Strategizing is necessary to sustain in challenging environment. Luxury retailers are slashing prices to attract shoppers while government is exempting taxes and relaxing visa to increase tourists spending. Luxury goods retail sales in Asia-Pacific will reach US$134.9 billion by 2019, growing at a CAGR of 7.0% during 2014-2019. Japan will remain the largest APAC luxury goods market amid slowdown in China and India's luxury goods market is the fastest growing in Asia-Pacific, driven by rising disposable income, growing fascination towards luxury brands, and the desire of high earners to differentiate themselves from others. Jewelry, watches, and accessories is the largest and fastest growing category in the region, driven by higher spending on jewelry and watches by Chinese, Japanese, and Korean consumers. The Hong Kong luxury goods market is struggling due to political unrest and reduced Chinese spending. Luxury tax exemption is expected to boost luxury goods consumption in Indonesia. Social messaging apps is a trending marketing channel for luxury brands, as the digital channel is influencing the purchasing decisions and pattern of consumers.

Companies like LVMH, Ralph Lauren, Coach, Compagnie Financiere Richemont SA, Kering S.A., Tiffany and Co., Burberry Group plc, Hermès International SCA, Prada and Salvatore Ferragamo Group are mentioned in this Luxury Goods Retailing Market in Asia-Pacific, 2014-2019 Market and Category Expenditure and Forecasts, Trends, and Competitive Landscape research report available for purchase at http://www.reportsnreports.com/Purchase.aspx?name=420734 .

On similar lines, another regional research on luxury goods market titled Luxury Goods Retailing in the Americas, 2014-2019; Market and Category Expenditure and Forecasts, Trends, and Competitive Landscape says US luxury retail market accounts for 90.2% of the total market in the region, and is forecast to grow at a CAGR of 5.2% during 2014-2019, driven by the recovery in the economy and rising tourist spending. Though a relatively small market, Peru is expected to observe the fastest growth in the region, driven by a developing economy, rising affluent population, and increasing brand awareness. The luxury goods retail sales of Colombia are expected to double by 2019. After overtaking Chile, Colombia is expected surpass Argentina by 2019. Communication equipment is the fastest growing category in the region, driven by the growing demand for high-end smartphones. The Brazilian luxury market is attractive but challenging; high import duties present challenges in Brazil. Read more at http://www.reportsnreports.com/reports/420733-luxury-goods-retailing-in-the-americas-2014-2019-market-and-category-expenditure-and-forecasts-trends-and-competitive-landscape.html .

Explore more reports on the retail market at http://www.reportsnreports.com/market-research/retail/ .

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