Wednesday, February 6, 2013

Asian Luxury Market


As Asians are learning to adjust to their new found wealth, they are looking for high priced ways to redefine their identities and positions in society. They are seeking out unique experiences, enjoying luxury brands and in search of new pleasures. The new status of wealth cuts across regions and through different income levels, but it all leads to the desire for more luxury brands and products that will improve their lifestyle while setting them apart. Although in America the wealthy population leans toward being inconspicuous, emerging markets see luxury products as an honour or achievement worthy of a very expensive, and "showy" badge.

Second Annual Marcus Evans Luxury Brands Conference

The new reality in Asia has lent its support to the global luxury market and has helped it to withstand economic downturns that have greatly affected other industries. With the emerging markets in mind, the Marcus Evans 2nd Annual Luxury Brands Conference will introduce bespoke services and products while highlighting case studies by some of the largest international luxury brands. Participants will be encouraged in steps they can take now to meet the higher expectations and continue to grow with the new luxury brand market, including tools to meet the new challenges facing them with the sway towards digital marketing.

Raising the Bar

As noted in a previous Marcus Evans Luxury Conference, the luxury goods companies that have suffered the most throughout economic turmoil are those that produce products aimed at the middle market. The very high-end luxury items have done the best, as well as the lower end products. This was seen in 2010 when watches that cost in the upper range of $15,000 or more continued to sell as well as the lower end timepieces in the under $2,000 range. The market that did poorly was the middle range, a trend that carried over into the jewelry market as well as name brand clothing.

13 comments:

  1. I usually buy clothes that doesn't have any brand because branded clothes are so expensive here in our country.Besides, branded or not, they're still clothes. However, I'm happy that a lot of branded clothes now come from Asia. It's a good way to promote the talents that Asian's have.

    ReplyDelete
  2. This is a very good news for the Asians. The market tends to raise the value in the region. It is quite good to be enlightened by this article.

    ReplyDelete
  3. Although the global economy is not so good. However, in Asia especially in China the luxury market still goes so well. Some rich Chinese are crazy for the luxury brands.

    ReplyDelete
  4. Many Asian countries have made lot of progress in last decade. Luxurious items like cosmetics and artificial jewellery did attract people a lot. Various Fashion shows all over Asia have expanded their industry to large extent specially in women clothing.This article is knowledge based and good guidance.

    ReplyDelete
  5. This is good. The higher the company, the greater the problems. It is all about management.

    ReplyDelete
  6. Wow! I didn't know that Asian markets have come such a long way. I guess there's hardly any difference between them and the western market now a days.

    ReplyDelete
  7. I believe you are referring to China as China become the world second largest economic power. This mean there have a lot of wealthy people and because higher salary mean higher imposed money for them to spend on. Buying luxury item like car, watch, and other become trend,thus this have become goldmine for luxury business.

    ReplyDelete
  8. wow.. mexico has also started things very similair to yours there. I guess the word has spread...

    ReplyDelete
  9. Asians really are breaking the bars to make themselves heard. This event will be really successful due to the advancement of the asians.

    ReplyDelete
  10. The example of watches given in "Raising the Bar" is a interesting one. That shows middle class had suffered more than any other due to economic turmoil. A nice information of Marcus Evans Luxury Brands Conference.

    ReplyDelete
  11. I very much agree with this. I believe the economy has hurt all.

    ReplyDelete
  12. Most of Asian countries are devaloping counties. Still people of these countries lives in villages.Many of them believe having luxary goods increase their position in the society.(ex:some countries are there they don't want to have a car from reputed brand. having a just any car is increase their reputation of society)

    ReplyDelete
  13. Well, i think i agree with your opinion, cos luxuries brand reflected the status of people who buy it

    ReplyDelete