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The Industry by the Numbers

All around the world in stats.

Appeared In
Special Issue
WWD Collections issue 11/11/2013

All around the world in stats.

UNITED STATES
46%: Share of wealthy U.S. consumers who expect their household incomes to “significantly increase” in the next five years.

38.5%: Share of worldwide gross domestic product attributable to consumer spending in the U.S. and Western Europe in 2002.

35%: Share of Millennials who said the likelihood that they would purchase luxury goods or services had increased from a year earlier.

15%:
Share of Baby Boomers who said the likelihood that they would purchase luxury goods or services had increased from a year earlier.

18%:
Share of Millennials who ranked exclusivity as an important consideration in their decision to purchase luxury goods.

4%: Share of Baby Boomers who ranked exclusivity as an important consideration in their decision to purchase luxury goods.

$317 billion: The volume luxury goods sales are expected to surpass worldwide this year, up 3 percent from last year.

91%: Share of luxury product transactions made in a store.

61%: Share of luxury goods buyers who research online before making a purchase.

50%: Share of luxury consumers who use a computer to research a high-end product before buying it; 18 percent use a smartphone and 22 percent use a tablet.

BRAZIL
Brazil’s luxury goods expenditure more than doubled between 2005 and 2012.

80%: Share of luxury shopping Brazilians do outside their country to avoid high prices imposed by import taxes.

3 to 4%: Projection for the Brazilian economy’s expansion in 2013.

WESTERN EUROPE
26%: Estimated share of worldwide GDP attributable to consumer spending in the U.S. and Western Europe in 2015.

65%: Share of watch executives that have a positive outlook for the Swiss watch industry over the next 12 months. Although export sales to China are slowing, demand from other emerging markets and North America is expected to hold up well, as is demand from tourists visiting Switzerland and other European countries to shop.

One-third: Share of total luxury sales generated by
Western Europe.

An increasing number of Europeans think luxury is inaccessible to them. Ipsos Public Affairs found in a recent study that, in 2013, 74 percent of Spaniards estimated that luxury is an “inaccessible world” for them, versus 63 percent in 2007. In Germany, it was 57 percent against 50 percent, and in the U.K. it was 59 percent versus 46 percent. In 2013, 76 percent of French and 49 percent of Italians queried deemed luxury an “inaccessible world.”

MIDDLE EAST
$15 billion: The projection for online retail sales in GCC countries alone (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE) by 2015.

The Middle East is experiencing an unprecedented “youth bulge,” with more than 60 percent of its population coming from the digitally engaged age group of 15 to 29.

CHINA
3%: Share of consumption of luxury goods in Mainland China conducted online in 2012.

14%: Share of consumption of luxury goods attributable to Chinese consumers in 2008.

34%: Estimated share of consumption of luxury goods attributable to Chinese consumers in 2015.

74%: Share of wealthy Chinese consumers who expect their household incomes to “significantly increase” in the next five years.

38%: Share of Chinese luxury shoppers who buy luxury products in Mainland China only.

50%: Share of Chinese luxury shoppers who buy luxury products both in Mainland China and overseas.

13%: Share of Chinese luxury shoppers who buy luxury products overseas only.

Amid rumors of a slowdown in the national economy, the luxury market in China is in robust health. By 2015, China’s consumers will account for one-third of a global market for luxury goods estimated at around $175 billion (135 billion euros, 114 billion pounds).

2.4%: The increase in the value of diamond trading in the Shanghai Diamond Exchange (year-on-year) to $1.98 billion, in the six months ended June 30. The volume of the same dropped, however, by 37.6 percent to 33.93 million carats.