Emerging Markets Are The Fronts Of Luxury Consumption.
Global
Luxury goods
The market will recover after the financial crisis, which is expected to grow 5%-10% in the global luxury market this year, with 65% of the growth outside Europe, the number announced at the French luxury industry symposium by the representative of French market research and consulting firm Eurostaf.
French government departments and business representatives at the seminar said that France will once again usher in market development opportunities. French luxury goods are in the leading position in the world, but France still needs to promote the development of luxury goods industry, support enterprise innovation, enhance international competitiveness, and sell more products to emerging market countries.
According to Eurostaf's research data, the global luxury market is in a new rising cycle in 2004-2007 years. France is the biggest beneficiary. Luxury sales in France are growing at an annual rate of 4.6%-9.1%, and the growth rate is 8%-10% at fixed exchange rates.
In the 2008-2009 year, the global luxury market suffered unprecedented impact. The French luxury industry also failed to escape. The upstream SMEs were hit most and the profits of large enterprises weakened.
In 2008 and 2009, the global luxury market turnover increased by 0.3% and 1.4% respectively, compared with 2.8% in France and 2.2% in France.
As the world economy gets warmer, the global luxury market begins to recover, and the demand for traditional European and American markets is rising.
emerging market
The demand for the country continued to grow strongly, plus the decline in the euro exchange rate, which was beneficial to the sales factor. The famous luxury goods group of France gained a lot. In the first half of this year, sales of Hermes increased by 22.8%.
LVMH
Sales increased by 16.5%, and Dior group increased by 9.7%.
Global luxury market sales are expected to grow by 5%-10% this year and continue to rise next year.
The luxury industry in France is the pride of France. The deputy director of French industry minister, deputy director of the French Industrial Office, represented the Minister of industry at the recent French luxury industry Symposium. France pointed out that France is the world's largest exporter of luxury goods, occupying 25%-35% of the global market share, and has created more than 100 thousand direct jobs in France.
The luxury goods industry in France creates high value-added products with exquisite technology, traditional technology and high quality products.
However, there are two kinds of speed in the luxury goods industry in France. The top brands in the world are limited by the crisis, and some small and medium-sized enterprises have not yet been affected by the crisis.
To maintain the leading position of the luxury goods industry, France should give play to its traditional strengths and maintain its innovation and innovation capabilities, and carry out the necessary structural adjustment to enhance its competitiveness.
According to the delegates, emerging markets are the main consumer market for luxury goods. Eurostaf statistics show that in 2008 and 2009, the consumption of luxury goods in emerging market countries increased by 23.3% and 8.7% respectively.
In 2015, consumption in emerging market countries will grow by 36%.
Because the major consumer market of luxury goods has been pferred to emerging market countries, French enterprises should strengthen industry collaboration and increase sales of French products to emerging markets.
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