Warc Briefing: Luxury
Definition: Luxury brands are high ticket, infrequently purchased goods and services typically only available to an elite because of their price, scarcity or limited public profile.
- China will account for 20% of the global luxury market by 2015i.
- Four macro trends have driven the long-term increase in global luxury purchasing: increased disposable income, reduced unemployment, falling production costs and increased female employmentii.
- The number of Louis Vuitton stores worldwide has grown from 251 to 450 in a decadeiii.
History and future outlook