Luxury Goods - Vietnam

  • Vietnam
  • Vietnam's Luxury Goods market is projected to generate a revenue of €920.10m in 2024.
  • The market is expected to experience a steady annual growth rate of 3.33% (CAGR 2024-2028).
  • Among the various market segments, Luxury Fashion holds the largest market volume, reaching €276.90m in 2024.
  • When compared globally, in the United States leads in revenue generation, with an estimated amount of €71,660m in 2024.
  • In terms of per capita revenue, in Vietnam is expected to generate €9.25 per person in 2024.
  • The Luxury Goods market is also witnessing a significant shift towards online sales, which is projected to contribute 8.6% of the total revenue by 2024.
  • Vietnam's growing middle class and increasing disposable income have led to a surge in demand for luxury goods.

Key regions: United States, Russia, India, Singapore, United Kingdom

 
Mercado
 
Región
 
Comparación de regiones
 
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Analyst Opinion

When marketing luxury, exclusivity constitutes the conceptual key element. This exclusivity is maintained mainly by a high price point but also by consciously limiting sales volumes and outlets. 2018 was a good year for luxury goods companies, continuing the rebound of the global luxury goods industry which started in 2017 after two relatively sluggish years. Key trends shaping the industry are a continued emphasis on manufacturer-owned retail, a more pronounced shift of sales from the established core markets in Central & Western Europe, North America, and Japan to Greater China and other emerging markets, as well as the increasing role of a fast-growing eCommerce channel.

Methodology

The Luxury Goods market is built on resources from the Statista platform as well as on in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. We evaluate the status quo of the market, monitor trends, and create an independent forecast regarding market developments of the global Luxury Goods industry.

Visión general

  • Revenue
  • Analyst Opinion
  • Sales Channels
  • Key Players
  • Global Comparison
  • Methodology
  • Key Market Indicators
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