Global Powers of Luxury Goods 2019 | CIP | Deloitte Netherlands

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Global Powers of Luxury Goods 2019

The global luxury goods market continues to experience positive growth

However, luxury goods companies must ensure they also appeal to new consumers in order to retain growth momentum. Our Global Powers of Luxury Goods 2019 report analyses the performance of the luxury goods sector by product sector and by geography. The report sees that luxury brands are investing in the customers of the future.

April, 2019

Who are these future customers?

One new consumer class are the HENRYs ꟷ High Earners Not Rich Yet. These are consumers with a significant discretionary income at present and a high likelihood of becoming wealthy in future. In order to stay relevant to these HENRYs, and to Millenials and the Gen Z population, luxury brands are committing to, and investing in, ways of appealing to these groups.

Global Powers of Luxury Goods 2019

  • Performance of the top 100, fast 20, and exciting newcomers
  • How to connect with your future customers? 
  • Strategies used by our industry leaders

Get the full report

And what do they want?

These ‘new’ tech savvy generations look for individualised, seamless, brand relationships. This has led some luxury brand companies to re-evaluate the value of brand heritage and history. They understand that, if they continue to depend heavily on heritage without radically reinventing, they will be destined to be rejected by the growing affluent millennial population.

Bridging the gap between old and new?

In order to cater to the new consumers mentioned above, luxury goods companies must adapt their strategies accordingly. Many, for example, are looking into digital marketing and revolving their business more around a so-called omni-personal approach, focusing solely on consumer demand. Using social media to engage with customers plays its part in this, and, behind the scenes, companies are wisely making use of Artificial Intelligence and Big Data. 

Another focal point for the new consumer is sustainability. Ethics and moral values are increasingly important and they influence a customer’s purchasing decisions. And luxury goods are no exception. For brands, this means evolving towards new models of ethical and sustainable luxury. 

Connecting with today's and tomorrow's consumers

The Global Powers of Luxury Goods 2019 report contains an overview of the world’s Top 100 luxury goods companies, including revenues, and strategies and tactics they are using to connect to today's and tomorrows consumers, like:

  • Personalisation
  • Social media stragegy
  • Sustainability
  • Data analytics

Aditionally, the report zooms in on the HENRY's-the emerging luxury consumer segment. How big is their spending power, what are their preferences, and how do they shop?

Finally, the report provides country and product sector analyses, and insight in exciting newcomers, and the fastest growing luxury goods companies. Dowload the Global Powers of Luxury Goods 2019 to get inspired by the best in our industry.

For more information on the Dutch retail market, and the trends we have identified, feel free to contact me via the contact details below.

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