The report tracks the latest industry trends and analyses their overall impact on the market. It also evaluates the market dynamics, which cover the key demand and price indicators, and studies the market on the basis of the SWOT and Porter's Five Forces models.Report Metrics
Historical Year: 2017-2022
Base Year: 2022
Forecast Year: 2023-2028
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Personal luxury goods refer to the high-end and wide variety of premium products, such as cosmetics, bags, fashion accessories, apparel, watches, jewellery, etc. These branded items offer standard quality materials, superior craftsmanship, and high-value aesthetics. Personal luxury goods are generally durable with an extended warranty period, therefore, they are heavily priced. These goods are readily available at mono-brand stores, specialty shops, departmental stores, online platforms, etc.
Note: Our analysts are continuously monitoring the influence of the COVID-19 pandemic on the market. This insightful information is included in the report to improve the efficiency, resilience, and overall performance of businesses.
GCC Personal Luxury Goods Market Industry Trends and Drivers:
The elevating levels of globalization, along with the increasing presence of international luxury brands, are primarily driving the GCC personal luxury goods market. In addition to this, improving consumer living standards and inflating disposable incomes of individuals are further propelling the market growth. Moreover, the emerging western fashion trends and the growing working women population across the region are also catalyzing the demand for personal luxury goods. Apart from this, the expanding tourism sector, particularly in Dubai and UAE, coupled with relaxed trade barrier policies of numerous developed GCC nations, is contributing to the market growth. For instance, the European Free Trade Agreement (EFTA), signed by GCC member states, enables the trade of personal luxury goods from countries like France. Furthermore, the increasing popularity of limited capsule collections and fashion drops is also bolstering the market for personal luxury goods. Besides this, the rising number of celebrity endorsements on several social media platforms is creating a positive outlook for the GCC market. Additionally, growing expenditures by several leading market players to authenticate complete buying and selling procedures through various innovative technologies to mitigate the risk of product replication by counterfeiters and provide a safe and reliable environment for customers is projected to bolster the GCC personal luxury goods market in the coming years.
Browse complete report with tables of contents and list of figures & tables: https://www.syndicatedanalytics.com/gcc-personal-luxury-goods-market
GCC Personal Luxury Goods Market Segmentation:
The market is segmented on the basis of type, end-use, and region.
Type
End-use
Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Competitive Landscape:
The report also provides insights on the competitive landscape of personal luxury goods with the leading players profiled in the report.
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