The Bain & Company Luxury Study Spring Update was unveiled this week in collaboration with Italy’s Fondazione Altagamma. The tone. Source: BCG-Altagamma True-Luxury Global Consumer Insight Survey ( 12K + 2 most relevant avenues of growth for the Personal Luxury market. 1/1/ BCG and Altagamma Release Fifth Annual Study. the most to the market’s growth: some %, to account for 50% of the market in
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Generational shift underway in luxury goods target market Forget the classic image of the old-school, reporf luxury sector customer. Every year the Foundation releases eight researches conducted in partnership with some of the most prestigious international partners.
We partner with clients from the private, public, and not-for-profit sectors in all regions to identify their highest-value opportunities, address their most critical challenges, and transform their enterprises. The rise of affordable luxury and numerous collaborations between classic repkrt and streetwear brands are also stimulating this trend. The global market of new boats has a value of 19 billion Euro and Italy is confirmed as the second largest boat producer in the world, after the US, and the first worldwide producer of super yachts.
Social media luuxry influencers are gaining power. From one side, they must take advantage of traditional values such as craftsmanship and qualityboth of which are seen luzury increasingly important by the new target market.
But who is going to be accounting for the other slice of the pie? The situation looks promising, to say the least. Type your search terms above and press return to see the search results. The purpose of the Study, conducted by Deloitte and Altagamma for Nautica Italiana, is to analyse the latagamma trends of the global boating recreational market classified by the main vertical sectors and business segments of the industry.
Younger generations, for their part, feel that casual style better represents their personal branding.
Collaborations with streetwear brands and artists are becoming the norm for generation Zers and millennials. Europe will not achieve similar growth rates.
The luxury markets are analysed by looking at demand and supply with specific in-depth analysis and forecasts on consumption, consumer profiling, digital, retail and specific product category. We use first-party and third-party cookies: Don’t miss a thing!
Altagamma and BCG analysis reveals luxury trends for coming years | #GrowingLeader
Which products are they interested in? This ensures that relort clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Altagamma is the global landmark for the understanding of the luxury market.
It will be crucial for brands to find a way to work within the whole ecosystem in order to drive traffic to their websites and provide Chinese consumers with a seamless and integrated shopping experience. The percentage of online sales perceived as being additional, and not a cannibalization of, physical sales is decreasing each year, with China the least cannibalized country to date.
The access to the reports is reserved to Altagamma Companies. It has been hurt by a stronger euro, zltagamma has dented purchases by tourists, but some countries have seen stronger consumption Russia, France, Switzerland. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization.
But who exactly is the typical Chinese consumer that the leading companies need to be targeting? Showcased for the… Continue reading It gives brands a cool edge and strengthens luxxury awareness as well as increases willingness to buy the brand. Elsewhere in Asia, the picture looks very good, even though that Chinese growth rate puts other countries in the shade.
For the first time, social media is the first source of information and the channel of primary impact used by true-luxury consumers, followed by magazines and brand websites. Abstracts are available in the press releases area.
Chinese consumers represent the nationality driving the most growth: But what millennials also have is incredible purchasing power luxhry, despite having grown up during one of the biggest economic crises of modern history.
The fact is that consumers love luxury and just want o buy more product than ever. Salvatore Interdonato Create Value.
Founded inBCG is a private company with offices in more than 90 cities in 50 countries. The market is fuelling consumption, boosting employment and supporting the economic growth of entire nations, most of all Italy.
Digital must remain a priority to define an omnichannel strategy compatible with target expectations. In other words, one out of every four purchases will be made online: Attracting graduates interested in a managerial career in business or in public administration since Sign up to receive daily news. Altagamma Studies Altagamma is the global landmark for the understanding of the luxury market.
The researchers also said there are four key trends driving sales of personal luxury goods this year.