Global Accessible Luxury Goods Market was valued at USD 137.8 billion in the year 2019. Escalating urban population with growing access to internet with government taking various initiatives in order to make internet accessible to everyone coupled with rapidly surging smartphones penetration with various ecommerce players investing hefty amounts in expanding their geographical presence, has been anticipated to infuse growth in the market for Accessible Luxury Goods during the forecast period of 2020-2025. Also, changing lifestyle, inclination towards individualism, increase in number of middle-income groups, rising demand from Chinese millennials and Gen Z are some of the factors impelling the market growth of Accessible Luxury Goods market at global level.
However, the accessible luxury goods is badly impacted by market store terminations and clients stooping down in their homes due to the attack of Covid-19 pandemic. Major countries and regions of the world, from China to Japan, Europe and North America are battling with the COVID-19 menace and disturbed distribution chains.
Under the product segment, Apparel and Footwear are anticipated to witness the largest market share owing to rise in brand awareness, availability of fine quality of the fabric at an affordable price and also developing individuality to one’s personality are the factors behind burgeoning accessible luxury apparel and Footwear market. Therefore, the demand for the affordable and accessible luxury have been increasing by aspirational millennials and Gen Z. Particularly the price of the accessible luxury is such that middle income groups can afford to purchase these goods. Also growing adoption of online shopping among consumers with changing fashion and lifestyle preferences supported by various initiatives from ecommerce majors to provide better shopping experience with consumers centric website, will be accelerating the Accessible Luxury Goods market growth in the coming years.
Closure of stores in the market due to the COVID-19 pandemic in 2020, the online shopping is gaining momentum and also the companies have started using further automation and artificial intelligence to improve the digitization process which in turn will enhance the resilience of the supply chains. Consequently, the online market of accessible luxury goods is prospected to increase in the future.
Scope of the Report
- The report analyses Accessible Luxury Goods market By Value.
- The report analyses Accessible Luxury Goods Market By Product (Apparel and Footwear, Cosmetics and Fragrance, Jewelry and Watches and Bags & Accessories).
- The report assesses the Accessible Luxury Goods market By Sales Channel (Online and Offline).
- The Global Accessible Luxury Goods Market has been analysed By Region (North America, Europe, Asia Pacific) and By Country (US, Canada, UK, Italy, France, Spain, China, India, South Korea, Japan).
- The key insights of the report have been presented through the attractiveness of the market has been presented By Product, Sales Channel and Region. Additionally, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
- The companies analysed in the report include Elisabetta Franchi, Ted Baker, Sandro, Isabel Marant, Albertta Feretti, Pinko, 3.1 Philip Lim, Twinset Milano, GUCCI, Coach.
- The report presents the analysis of Accessible Luxury Goods market for the historical period of 2015-2019 and the forecast period of 2020-2025.
Key Target Audience
- Accessible Luxury Goods Brands
- Leading Luxury Retail Outles
- Online Retailers
- Consulting and Advisory Firms