贝恩：2019年奢侈品全球市场研究-春季版（英文版）（15页）.pdf

1、LUXURY GOODS WORLDWIDE MARKET STUDY, SPRING 2019 CLAUDIA DARPIZIO | FEDERICA LEVATO 2 190613 Bain Luxury Study . ENT_v1MIL PERSONAL LUXURY GOODS MARKET IN 2018 CONFIRMED THE “NEW NORMAL” STARTED IN 2017 Democratization“Sortie du temple”CrisisChinese bulimiaReboot New normal +6% 96 -18 CAGR +3% +6% 1

2、7 -18 Y oY Current Exch. rate Constant Exch. rate 3 190613 Bain Luxury Study . ENT_v1MIL STRONG 2018 HOLIDAY SEASON ALMOST EVERYWHERE ACROSS THE WORLD TEMPORARY WEAKENING OF AMERICAN CONSUMERS SPENDING TOURISM ACCELERATION FUELING POSITIVE GROWTH FOR EUROPE CHINESE CONSUMERS CONFIRMED AS KEY MARKET

3、ENGINE Chinese consumers driving market growth: accelerations in domestic spending, at the expense of its neighbors, Hong Kong and Macau Uncertainties on US China trade war causing continuing decline in Asian travel to the US Weakening of the Euro against all major currencies causing increased touri

4、st inflows to Continental Europe Positive final quarter for the region, although with differences across countries: Brexit in UK and continuous socio-political protests in France represent potential risks for the future of the region Ongoing changes in US tax plan creating temporal uncertainties, ne

5、gatively impacting consumer spending on personal luxury goods Malls and department stores underperforming as traffic continues to decline, while monobrand stores maintain a positive growth trend 4 190613 Bain Luxury Study . ENT_v1MIL POSITIVE Q1 2019 PERFORMANCE, WITH CHINESE SPENDING DYNAMICS FUELI

6、NG GLOBAL LUXURY SCENE 8%+5%+Q1 2019 at current exchange rates at constant exchange rates Leather and Jewelry maintaining a sustained pace of growth, with positive momentum for handbags as well Beauty confirming positive 2018 trend, with solid growth in skin-care and make-up partially offset by mild