The recent survey issued on April 17th highlights very interesting trends.
– 75% of the 2018-25 market growth expected to come from Chinese True-Luxury consumers
– Gen Z represents today only ~4% of personal luxury, but have a clearly different set of behaviors & values
12 Key Trends
1. Strong purchase interest in buying brand collaborations. The most sold? Louis Vuitton and Supreme
2. Focus on items that have a reselling value. Rising of second-hand market
3. Sustainability influencing purchasing habits
4. Luxury casual wear continues to grow
5. Influencers rise
6. Social media keeps growing
7. E-commerce contributes to revenues growth. No cannibalization
8. Omni channel is stabilizing
9. Mono brand stores are stable
10. Made in Italy wins over Made in France
11. Luxury niche and sports brands polarize buying decisions
12. Stable demand of customization
So far China is making up 33% of the market and expected to rise at 40% by 2025.
On the other side USA represent quite a healthy market, with low level of unemployment and a stable level of inflation.
Why not considering it as a leverage for growth together with China?
Very interesting insights, indeed.
#business #luxury #madeinitaly #branding