Here’s Everything You Need To Know About The New Era Of Luxury Goods

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[credit provider=”By UggBoy♥UggGirl [ PHOTO : WORLD : SENSE ]

on flickr” url=”http://www.flickr.com/photos/uggboy/4983970643/sizes/o/in/photostream/”]Despite the luxury good market suffering from a global crisis in 2008, the industry is now projected to increase by 10% to €168 billion by the end of 2010, according to Bain & Company. This is close to its 2007 historical market peak of €170 billion.With big brands becoming bigger and the emergence of an increasingly sophisticated consumer, luxury good providers have much to learn from the rapidly evolving market trends.

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permalink=”2009-saw-an-8-decline-in-luxury-goods-after-the-2008-subprime-and-financial-crisis-1″
title=”2009 saw an 8% decline in luxury goods after the 2008 subprime and financial crisis”
content=”Source: Bain & Company
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[slide
permalink=”in-2010-there-was-a-9-11-rebound-in-customer-confidence-which-continues-to-grow-2″
title=”In 2010 there was a 9-11% rebound in customer confidence, which continues to grow”
content=”Source: Bain & Company
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permalink=”analysts-expect-10-growth-in-2010-and-9-12-growth-in-2011-counting-inflation-3″
title=”Analysts expect 10% growth in 2010 and 9-12% growth in 2011 (counting inflation)”
content=”Source: Bain & Company
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title=”The new luxury era depends on one thing… China”
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[slide
permalink=”the-asia-pacific-region-is-growing-in-importance-while-europe-and-japan-are-shrinking-5″
title=”The Asia-Pacific region is growing in importance — while Europe and Japan are shrinking”
content=”Source: Bain & Company
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[slide
permalink=”china-is-the-world-leader-in-growth-up-30-in-08-20-in-09-and-30-in-10-6″
title=”China is the world leader in growth, up 30% in ’08, 20% in ’09 and 30% in ’10”
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[slide
permalink=”and-the-chinese-love-traditional-luxury-brands-7″
title=”And the Chinese love traditional luxury brands”
content=”Source: Bain & Company
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[slide
permalink=”one-problem-for-japan-young-japanese-eschew-luxury-brands-preferring-to-set-their-own-trends-8″
title=”One problem for Japan: Young Japanese eschew luxury brands, preferring to set their own trends”
content=”Source: Bain & Company
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[slide
permalink=”brazil-is-leading-other-emerging-markets-and-didnt-lose-any-speed-during-the-recession-9″
title=”Brazil is leading other emerging markets — and didn’t lose any speed during the recession”
content=”Source: Bain & Company
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[slide
permalink=”the-us-still-leads-the-world-in-luxury-spending-but-this-figure-was-down-15-last-year-10″
title=”The US still leads the world in luxury spending, but this figure was down 15% last year”
content=”Source: Bain & Company
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[slide
permalink=”accessories-like-watches-and-jewelry-are-the-biggest-growth-area-for-luxury-11″
title=”Accessories like watches and jewelry are the biggest growth area for luxury”
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title=”Most luxury brands are investing in men, who currently make up 38% of the market”
content=”Source: Bain & Company
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permalink=”what-it-will-take-to-succeed-in-the-luxury-goods-market-in-the-next-15-years-13″
title=”What it will take to succeed in the luxury goods market in the next 15 years?”
content=”There are three factors to pay attention to: China, a generational shift and an enhanced customer experience. Penetrating into China’s market with a tailored value proposition will be important. Also, recognising the general shift –baby-boomer retirement and the connectedness of Gen Y– is crucial. And finally, enhancing the customer experience with an integrated online and offline experience will be essential to gaining customer loyalty.

Source: Bain & Company
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[slide
permalink=”now-check-out-the-ultimate-luxuries-14″
title=”Now check out the ultimate luxuries”
content=”The 20 Most Awesome One-Of-A-Kind Billionaire Toys >
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