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Britain'S Luxury Industry Is Recovering Strongly

2011/7/6 17:17:00 59

Luxury Culture Heritage Economic Recovery

According to the latest data released by Walpole, the British luxury goods company, the UK luxury goods industry has not only recovered from last year's recession, but also exceeded the expected speed in the industry.

Driven by the strong purchasing power of overseas tourists, the expansion of the luxury industry in Britain is expected to reach 8% in 2011, and the growth rate is expected to reach over 10%.

Affected by the international financial crisis, the luxury industry in Britain has shrunk by 1% in 2009, and sales have returned to pre crisis levels.

In 2005, the scale of the British luxury goods industry was only 4 billion 100 million pounds, and now it has reached 6 billion pounds, of which clothing accounts for about 3 billion pounds.

According to the market survey, more than 90% of the people in the industry have confidence in the development of the British luxury market. It is expected that the market will grow at a rate of over 10% in the next 4 years. The industry scale is expected to reach 10 billion pounds in 2015, or about 106 billion 500 million yuan.

The demand for luxury goods by overseas tourists is an important driving force for the development of the luxury industry in the UK.

1/4 in 2011.

Luxury goods

Sales were contributed by overseas tourists, up from 20% in 2010.

In the survey of 170 luxury brands, more than 70% of retailers reported a substantial increase in overseas customers, and even 13% of brands said that overseas tourists accounted for more than 50% of their total sales.

In the group of overseas visitors to Britain, in addition to the keen interest of Chinese tourists in maintaining luxury brands in the United States, the Chinese are still in the United States.

Economic recovery

As well as the impact of the weakness of the pound, the United States has become the largest source of overseas tourists in the UK, and second and third in the Middle East and Russia.

From a numerical point of view, American tourists account for 26% of overseas tourists who buy British luxury brands, 17% of Middle East tourists, 11% of Russia, 8% of Germany, France and the rest of the EU, and 6% of China.

It is worth noting that the contribution rate of Chinese tourists has exceeded that of Japan (5%), far more than that of India (2%), which is the same as emerging economies.

This is also reflected in the growth rate. China is closely following the United States (29%) with 21% growth rate, becoming one of the fastest growing overseas tourists.

With the continuous growth of international tourists and the rapid rise of emerging economies, the luxury industry in Britain is facing the best opportunity for development in ten years. Practitioners generally have confidence in the future.

At present, London is the third largest luxury goods sales center in the world, only after Paris and Milan.

But compared with Swiss watches and cars in Germany, Britain still lacks its distinctive characteristics in the luxury industry.

British luxury goods practitioners believe that the government does not really realize the important role of luxury goods in the British economy. Compared with France and Italy, the British government does not attach enough importance to the luxury industry.

In fact, the market is unique to Britain.

Cultural inheritance

There is a huge demand for exquisite craft and reliable quality. There is still great room for development in the luxury industry.

Meanwhile, the survey also shows that over 40% of British luxury brands have been sold in China in terms of international promotion, though the number is lagging behind France and Italy, but the gap is gradually narrowing.

This shows the good prospects for China's market and the confidence of British branding in China's economy.