The year 2015 was a good year for the luxury goods market in Singapore as the industry posted strong growth. Singapore is considered as an affluent market for luxury brand retailers around the world and therefore it is a very popular destination for luxury brands in Asia Pacific. The Singaporean population is also considered to be very fashion conscious and aware of the latest fashion trends. In 2015, the market grew significantly as consumers lined up to purchase better quality products in their search for prestige and investment both.
Singapore is also a major travel and tourism destination in the Asia Pacific/Southeast Asia region and therefore attracts a large number of international visitors. While Singaporeans remain the key target segment for the luxury goods market in the country, luxury brands are also targeting the growing number of tourists in order to increase their sales.
Taiyou Research’s report Luxury Goods Market in Singapore analyzes the market for luxury goods in Singapore. The report covers the following:
Industry overview and sales figures.
A look at the presence of well-known luxury brands in the industry.
Dominance of in-store retailing over online retailing in Singapore.
An analysis of the fashion awareness of the Singaporean population.
Analysis of the competition in the industry.
An analysis of the major industry players and their strategies to move ahead and sustain their growth in the industry.
Industry outlook till 2020 along with an analysis of the impact of various trends on the market in the coming years.