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Experiential Luxury in South Korea

Publisher Euromonitor International
Published Oct 18, 2024
Length 20 Pages
SKU # EP19272673

Description

Experiential Luxury in South Korea


Retail value sales of experiential luxury grew by a significant 18% in 2024, reaching KRW1.1 billion, up from 1 billion in 2023. Ongoing growth is benefiting from a trend bolstered by the outbreak of COVID-19: a focus on services above manufactured goods. This focus has benefited industries, including food service, travel, hotels and holidays, as consumers invest in experiences above physical goods. Due to the outbreak of COVID-19, retail value sales fell by 44% to KRW355 million in 2020. In 202...

Euromonitor International's Experiential Luxury in South Korea report offers a comprehensive guide to the size and shape of the Experiential Luxury market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market and their effects on Experiential Luxury retailing along with the development of consumers’ shopping patterns. Forecasts to 2028 illustrate how the market is set to change

Product coverage: Luxury Foodservice, Luxury Hotels.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?
* Get a detailed picture of the Experiential Luxury market;
* Pinpoint growth sectors and identify factors driving change;
* Understand the competitive environment, the market’s major players and leading brands;
* Use five-year forecasts to assess how the market is predicted to develop.

Table of Contents

20 Pages
Experiential Luxury in South Korea
Euromonitor International
October 2024
List Of Contents And Tables
EXPERIENTIAL LUXURY IN SOUTH KOREA
KEY DATA FINDINGS
2024 DEVELOPMENTS
Double-digit retail value growth as wealthy consumers invest in travel experiences
Luxury hotels lead overall growth, offering unique and exclusive experiences
Leading luxury hotels focus on developing their sustainability strategies
PROSPECTS AND OPPORTUNITIES
Positive outlook for the forecast period bolstered by the opening of new venues
The expansion of business facilities drives business clientele in luxury hotels
Luxury foodservice remains in its infancy while brands offer new experiences
CATEGORY DATA
Table 1 Sales of Experiential Luxury by Category: Value 2019-2024
Table 2 Sales of Experiential Luxury by Category: % Value Growth 2019-2024
Table 3 NBO Company Shares of Experiential Luxury: % Value 2019-2023
Table 4 LBN Brand Shares of Experiential Luxury: % Value 2020-2023
Table 5 Forecast Sales of Experiential Luxury by Category: Value 2024-2029
Table 6 Forecast Sales of Experiential Luxury by Category: % Value Growth 2024-2029
LUXURY GOODS IN SOUTH KOREA
EXECUTIVE SUMMARY
Luxury goods in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
MARKET DATA
Table 7 Sales of Luxury Goods by Category: Value 2019-2024
Table 8 Sales of Luxury Goods by Category: % Value Growth 2019-2024
Table 9 Inbound Receipts for Luxury Goods by Country of Origin: Value 2019-2024
Table 10 NBO Company Shares of Luxury Goods: % Value 2019-2023
Table 11 LBN Brand Shares of Luxury Goods: % Value 2020-2023
Table 12 Distribution of Luxury Goods by Format and Category: % Value 2024
Table 13 Forecast Sales of Luxury Goods by Category: Value 2024-2029
Table 14 Forecast Sales of Luxury Goods by Category: % Value Growth 2024-2029
DISCLAIMER
SOURCES
Summary 1 Research Sources

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