Hard Luxury Goods Market Revenue and Value Chain 2014-2020
Luxury goods comprises of products such as accessories, footwear, apparel, watches and others which are quite expensive and target those consumers who belongs to premium class. The market for luxury goods consist of three types of end consumers, which includes kids lying between the age of 0-12 years, teenagers belonging to the age group of 13 to 19 years and the rest lies in adult group. Luxury goods market can also be segmented on the basis of application which includes soft luxury goods and hard luxury goods. Soft luxury goods includes designer apparel and leather goods such as hand bags and others, which is easily available for the customers in the hypermarket stores or directly operative outlet. Whereas hard luxury goods comprises of jewellery and premium watches. The hard luxury goods are offered to the consumers through premium class outlets, stores or sell out through internet.
Thus the market for hard luxury product is also segmented on the basis of mode of distribution channel used for offering products to the consumers. The mode of Distribution channel is segmented into retail outlets, sell out through internet, company’s brand outlet and others. Among all these distribution channel online retailing is expected to be most preferred mode for distribution in the forecasted period. This is due to consumer convenience preferences and availability of the products at lower price. Furthermore, the second most preferred mode is expected to be the company’s brand retail outlets as they provide better offerings at less price.
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