Luxury Goods Market in South Korea 2016
South Korea has a booming industry for luxury goods. As the population has access to rising amount of disposable incomes, the luxury goods industry in South Korea continues to flourish. The year 2015 was a strong year for the market as it posted double digit growth as more and more luxury brands introduced affordable products in efforts to lure in more customers, thus expanding their consumer base in South Korea.
Men and children were the main target segments for luxury brands in the country, in a contrast to other Asian countries, where the primary target segment remain women. It has been observed that men spent more on luxury items such as watches, pens and other accessories.
The South Korean market for luxury goods is analyzed by Taiyou Research in its research report Luxury Goods Market in South Korea. The report covers the following:
Industry overview and sales figures.
An analysis of the growing economy and its impact on the luxury goods market in South Korea.
A look at the popularity of high end luxury brands as compared to the readily available luxury brands.
Analysis of the fashion trends in South Korea and the fashion awareness of the population.
Analysis of distribution channels in the industry.
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.
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