Economist: Asia’s luxury goods market growth slow markedly, yet growth of middle class offers huge opportunities

Asia Adult Expo 2011

Asia Adult Expo 2011 (Photo credit: window lightroom 瘋狂的窗口)

The Economist says, after a boom in 2011-12, Asia’s luxury goods market has seen growth slow markedly. Yet the growth of the middle class offers huge opportunities for carefully tailored brands, the Economist report said. There remains some doubt about whether the slowdown in Asia’s luxury goods sales is temporary or permanent, says the Economist. Despite the slowdown, The Economist Intelligence Unit’s forecasts for retail sales remain more bullish for Asia than for any other region over the next five years. This report, however, also looks at the long-term outlook for the region, by extending our household income projections out to 2030. The analyse also looks at shifting tastes in the Asian region, as well as the rise of smaller European brands and home-grown Asian ones. The Economist also discuss the impact of pricing and exchange rates, as well as counterfeiting and fast fashion, as clothing companies such as H&M (Sweden) and Zara (Spain) move into the market. (Source)

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