Global Luxury Fashion Market Outlook and Forecast 2021-2026


DUBLIN, Dec 3 2021 / PRNewswire / – The “Luxury Fashion Market – Global Outlook and Forecasts 2021-2026” the report was added to ResearchAndMarkets.com offer.

The size of the luxury fashion market was estimated at $ 110.64 billion in 2020 and should reach $ 153.97 billion by 2026, with a CAGR of 5.66%.

Online luxury fashion sales are expected to experience considerable growth during the forecast period. The global luxury fashion industry is growing significantly with the increase in the number of wealthy individuals, the increasing popularity among the young population belonging to millennials and millennials, the increase of brand loyalty among customers and the growing association of luxury brands by individuals.

The rapidly changing technological landscape and the increasing adoption of technologies such as augmented reality (AR) by the fashion industry, supported by the increasing penetration of digital channels in developing markets, offers new growth opportunities. to suppliers.

HIGHLIGHTS

Millennials and the Gen Z population are the main drivers of the luxury fashion industry. This can be attributed to their increased focus on experiences, their willingness to pay extra for premium products, and their openness to experimenting with new things.

The psychographic and demographic indicators of end users have changed dramatically in recent years. Factors such as increased internet penetration, strong adoption of smartphones, and increasing number of social media users have provided end users with unparalleled access to information on the go, helping end users take decisions. informed purchasing decisions.

LUXURY FASHION MARKET SEGMENTS

In 2020, luxury clothing was a major part of the luxury fashion industry. This is attributed to the Millennials and Gen Z population who are highly motivated by the latest fashion trends compared to any other age group.

In 2020, men accounted for the highest share of the luxury fashion market. Over the past decade, the men’s luxury segment has grown significantly due to increased spending on R&D and the development of new products. Online sales of men’s luxury fashion products are growing continuously with growing confidence in online channels, improved logistics and brands providing more personalized experiences to customers.

GEOGRAPHICAL ANALYSIS

APAC: The APAC region is expected to experience exponential growth in the luxury fashion market year on year. This can be attributed to the continued increase in the number of billionaires across the region who have more purchasing power than the normal population. January to October 2020, the APAC region recorded the highest share of luxury store openings compared to other regions.

Key suppliers

  • Armani Group
  • Burberry
  • Chanel
  • Hermes
  • Kering
  • LVMH
  • Prada Group

Other important suppliers

  • Capri’s farms
  • Dolce & Gabbana
  • Hugo boss
  • Max Mara Group
  • MCM
  • Moncler
  • Osklen
  • Salvatore Ferragamo
  • Tapestry
  • Tom ford
  • Valentino
  • Zegna

Main topics covered:

1 Research methodology

2 Research objectives

3 Research process

4 Scope and coverage
4.1 Market definition
4.2 Reference year
4.3 Scope of the study

5 Report assumptions and caveats
5.1 Key caveats
5.2 Currency conversion
5.3 Market derivation

6 Market overview

7 Presentation
7.1 Overview
7.2 Influencer role in luxury fashion
7.3 Value chain analysis
7.4 Impact of Covid-19

8 Market opportunities and trends
8.1 Take advantage of augmented reality
8.2 Growing inclination towards sustainability
8.3 Internet Shaping purchasing behavior

9 market growth catalysts
9.1 Increase acceptance by millennials and millennials
9.2 Growing population of wealthy people
9.3 Increase in travel and tourism

10 market restrictions
10.1 Proliferation of counterfeit products
10.2 Availability of used luxury goods

11 Market landscape
11.1 Market overview
11.2 Digitization supports the luxury market
11.3 Overview of the application
11.4 Market size and forecast
11.5 Analysis of the five forces

12 Product type
12.1 Market Overview and Growth Driver
12.2 Market overview
12.3 Clothing
12.4 Footwear
12.5 Accessories

13 End user
13.1 Market Overview and Growth Driver
13.2 Market overview
13.3 Men
13.4 Women
13.5 Children

14 Generational Cohort
14.1 Market Overview and Growth Driver
14.2 Market overview
14.3 Generation X
14.4 Millennial & Generation Z
14.5 Baby boomers and the silent generation

15 Distribution channel
15.1 Market Overview and Growth Driver
15.2 Market overview
15.3 Online stores
15.4 Single-brand stores
15.5 Specialized stores
15.6 Department stores
15.7 Non-price stores
15.8 Airport shops

16 Geography
16.1 Market Overview and Growth Driver
16.2 Geographic overview

For more information on this report, visit https://www.researchandmarkets.com/r/lzbauk

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