Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "Luxury Goods in the United Kingdom" report has been added to ResearchAndMarkets.com's offering.
Retail value sales of luxury goods in the UK grew by 7% in 2023 in current terms, to stand at GBP48.9 billion. Development was predominantly characterised by a focus on recovery and a return to customary consumer behaviour, encompassing working, travel, shopping, and buying luxury goods. Affluent consumers, in particular, sought to indulge themselves in the aftermath of the lockdown period.
The Luxury Goods in United Kingdom report offers a comprehensive guide to the size and shape of the Luxury Goods market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth.
It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market and their effects on Luxury Goods retailing along with the development of consumers' shopping patterns. Forecasts to 2027 illustrate how the market is set to change
Product coverage: Experiential Luxury, Fine Wines/Champagne and Spirits, Personal Luxury, Premium and Luxury Cars.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Key report benefits:
- Get a detailed picture of the Luxury Goods market
- Pinpoint growth sectors and identify factors driving change
- Understand the competitive environment, the market's major players and leading brands
- Use five-year forecasts to assess how the market is predicted to develop.
Key Topics Covered:
EXECUTIVE SUMMARY
- Luxury goods in 2023: The big picture
- 2023 key trends
- Competitive landscape
- Retailing developments
- What next for luxury goods?
EXPERIENTIAL LUXURY IN THE UNITED KINGDOM
KEY DATA FINDINGS
2023 DEVELOPMENTS
- Current retail value sales of experiential luxury rose in 2023
- Luxury hotels records the highest value growth within the category overall in 2023
- Hyatt International Corp lead experiential luxury in 2022
PROSPECTS AND OPPORTUNITIES
- Retail value sales look set to increase over the forecast period
- Luxury hotels is expected to see the best performance over the forecast period
FINE WINES/CHAMPAGNE AND SPIRITS IN THE UNITED KINGDOM
KEY DATA FINDINGS
2023 DEVELOPMENTS
- Fine wines/champagne and spirits sees rising current retail value sales in 2023
- Fine wines sees the highest value sales in 2023
- Fine wines/champagne and spirits is led by Moet Hennessy UK Ltd in 2022
PROSPECTS AND OPPORTUNITIES
- Value sales expected to increase in constant 2023 terms over 2023-2028
- Fine wines expected to see the fastest percentage CAGR rise during forecast period
PREMIUM AND LUXURY CARS IN THE UNITED KINGDOM
KEY DATA FINDINGS
2023 DEVELOPMENTS
- Premium and luxury cars sees rising current retail value sales in 2023
- Number of premium and luxury cars declining
- Premium and luxury cars is led by BMW (UK) Ltd in 2022
PROSPECTS AND OPPORTUNITIES
- Value sales of premium and luxury cars forecast to rise over 2023-2028
- Online sales look set to increase
- Electric cars to become more prominent
PERSONAL LUXURY IN THE UNITED KINGDOM
KEY DATA FINDINGS
2023 DEVELOPMENTS
- Personal luxury saw a rise in current retail value sales in 2023
- Designer apparel and footwear (ready-to-wear) dominated by designer apparel (ready-to-wear)
- Luxury eyewear saw rising value sales in 2023
- Luxury jewellery retail value sales saw a rise in 2023
- Positive value growth for luxury leather goods
- Value sales of luxury wearables electronics up on previous year
- Luxury timepieces enjoys value sales increase
- Value sales of writing instruments and stationery on the increase in 2023
- Value of super premium beauty and personal care sees a sales rise
- Louis Vuitton UK Ltd lead personal luxury in 2022
PROSPECTS AND OPPORTUNITIES
- Value sales are expected to go up in 2023 constant terms over the forecast period
- Designer apparel and footwear (ready-to-wear) set to remain biggest subcategory in value terms in 2028
- Luxury leather goods expected to see the fastest percentage growth over the forecast period
For more information about this report visit https://www.researchandmarkets.com/r/y3on8j
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