DUBLIN, Oct. 3, 2023 /PRNewswire/ — The “Asia-Pacific (APAC) Luxury Retail Market Size, Trends, Regional and Category Performance, Brands and Forecast to 2027″ report has been added to ResearchAndMarkets.com’s offering.
This report provides an overview of the APAC Luxury Retailing which includes Analysis, market forecasts, brands and trends in the APAC Luxury Retail Market 2017-2027.
China is poised to maintain its dominant position in the Asian luxury goods market, with projections indicating it will account for over 50% of total sales by 2027, boasting a robust CAGR of 9.3% from 2017 to 2022.
Despite a dip in luxury goods sales in 2022, the reopening of China post-COVID-19 restrictions is anticipated to rejuvenate sales in 2023. This resurgence will largely be fueled by China’s affluent youth population, showing a growing penchant for luxury items. Simultaneously, India is positioned to emerge as the fastest-growing market in the coming years, with an impressive CAGR of 10.2% from 2022 to 2027, driven by its rising affluence.
Numerous luxury brands have unveiled expansion plans into India, recognizing the significant growth potential. To capture consumer interest, luxury brands are embracing hyperphysical experiences that meld the digital realm with immersive in-person encounters. In this evolving landscape, innovative digital strategies, combined with an understanding of local culture and preferences, hold the key to unlocking further growth opportunities.
t’s worth noting that the younger generation of shoppers and high-net-worth individuals are pivotal forces behind the ongoing transformation of Asia’s luxury market.
Reasons to Buy
- Gain a comprehensive knowledge on APAC Luxury retail market and develop a competitive advantage
- Investigate current trends in APAC luxury retail market to identify the best opportunities to exploit
- Analysis of key luxury retail players operating in APAC
- Explore novel opportunities that will allow you to align your product offerings and strategies to meet demand by analyzing the key consumer and technology trends influencing the luxury fashion market in APAC region
Key Topics Covered:
- Drivers and Inhibitors
- Key Trends in the Luxury Retail Market
APAC Market Size & Forecasts 2017-2027
- Regional Performance & Forecasts 2017-2027
- Category Performance & Forecasts 2017-2027
Top 10 Brands
A selection of companies mentioned in this report includes
- Giorgio Armani
For more information about this report visit https://www.researchandmarkets.com/r/zctmb1
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Originally published at https://www.prnewswire.com/news-releases/asia-pacific-luxury-retail-markets-report-2017-2022–2023-2027-featuring-lvmh-richemont-kering-chanel-swatch-hermes-giorgio-armani-coach-prada–burberry-301946093.html
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