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China Driving Growth of Global Luxury Sector
November 20, 2012
According to the latest survey carried in October by Bain & Company on behalf of the Altagamma Foundation, the luxury market globally should rise by 10 to 12% in 2012 bringing figures to a total 212 billion euros or even higher to 215 billion by the end of 2012.
These figures have surpassed the original predictions by Bain & Company which back in May stood at 6 to 7% for a total of 200 billion in 2012.
Asia and in particular China are the driving forces behind this exceptional growth. Globally, 25% of the purchases made in the Luxury sector have been made by the Chinese. They are ahead of the Europeans (24%), Americans (20%), Japanese (14%) and the rest of Asians (11%).
It is important to highlight that 40% of luxury purchases is done whilst travelling. Which is why this is the right environment for brands to reach this particular elite during their travels.
What is the best Inflight media to reach them?
With IMM, the expert in Inflight media we promise to follow these consumers on their journeys, from the comfort of their homes via Online and Digital media (airlines web sites, e-tickets), to their arrival at the airport (boarding passes, VIP Lounges, displays), on the plane (Inflight magazines, On board TV, Bespoke Operations…), to their final destination (Airport Displays, VIP Lounges).
Future predictions are promising and the market is expected to reach a cool 250 billion Euros by 2015.
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