GCC Luxury Goods Market Segmented By Product Type (Apparel, Footwear, Accessories, and Others (Cosmetics, etc.)), By End User (Women and Men), By Distribution Channel (Supermarket/Hypermarket, Exclusive Stores, Online, and Others (Multi-Branded Stores, etc.)), By Country, Competition, Forecast & Opportunities, 2028
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationGCC Luxury Goods Market Segmented By Product Type (Apparel, Footwear, Accessories, and Others (Cosmetics, etc.)), By End User (Women and Men), By Distribution Channel (Supermarket/Hypermarket, Exclusive Stores, Online, and Others (Multi-Branded Stores, etc.)), By Country, Competition, Forecast & Opportunities, 2028
GCC Luxury Goods Market is anticipated to project robust growth in the forecast period on account of increasing preference for branded products, brand sponsorship, increasing working population and increasing spending power.
The region's demand for luxury items for employees is also being driven by an increase in celebrity endorsements and the widespread use of social media marketing. In addition, the demand for used luxury products has been stimulated by the growing appeal of limited capsule collections and fashion drops. Furthermore, to give clients a secure and dependable environment, many personal luxury platforms are increasing their investments in authentication procedures and quality inspections.
Technology has made a lot of changes in recent times. Consumers have more flexibility to search for information whenever and wherever they wanted through the internet and later mobile internet. With additional touch points found at to consumers across the sales funnel's discovery and purchase stages, the consumer journey has consequently grown significantly more complicated.
Emergence Of Online Sales Channels Will Lead to the Market Growth
Growing Younger Generation Population Will Boost The Market Growth
Luxury brands in the region find themselves at a fascinating crossroads, fueled by surging oil prices, economic growth and investment, and a boom in young, affluent consumers. However, before diving in and innovating, these businesses must truly understand the aspirations and cultural nuances of this youthful demographic. There's a unique chance to redefine the luxury shopping experience for these forward-thinking shoppers by blending the physical and digital realms—and supercharge growth while doing it. As The Economist points out, the Gulf's population is exploding, with a huge chunk of it under 25. Plus, women are increasingly playing a pivotal role in the Gulf economy, representing a significant 33% of luxury goods buyers.
High Spending Power Will Fuel The Market Growth
Okay, so what's driving all that retail boom? Well, it's a pretty interesting situation here. You've got the government spending big, but taxes are practically non-existent, all thanks to those massive profits from the state-run oil companies. This combo means people have way more cash in their pockets to splurge on luxury items, which of course, fuels retail growth! And speaking of luxury, international brands are super popular here in the Gulf. Plus, you have all those Western companies buying fancy stuff, and don't forget the tourists who love to shop. Take the Dubai Mall, for example – it's the biggest shopping mall in the world now and gets around 65 million visitors every year!
Download Free Sample Report
Market Segmentation
The GCC luxury goods market is segmented based on product type, end user, distribution channel, country, and competitional landscape. Based on product type, the market is further fragmented into apparel, footwear, accessories, and others like cosmetics. Based on end user the market is segmented into women and men. Based on distribution channel, the market is segmented into supermarket/hypermarket, exclusive retailers, online, and others like multi-branded retailers, etc. Based on country, the market is divided into Saudi Arabia, UAE, Qatar, Oman, Bahrin, and Kuwait.
Company Profiles
Al Tayer Group LLC,
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018–2021 |
| Estimated Year | 2023E |
| Forecast Period | 2024F –2028F |
| Quantitative Units | Revenue in USD Million and CAGR for 2018-2022 and 2023E- 2028F |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Product Type End User Distribution Channel Country |
| Regional Scope | Saudi Arabia, UAE, Qatar, Oman, Bahrin, Kuwait. |
| Key Companies Profiled | Al Tayer Group LLC, Etoile Company, AWR Group LLC, M. H. Alshaya Co. WLL, Cartier SA, Radwa Trading Company LLC (Chanel), Guccio Gucci S.p.A, Hermes International, FENDI S.r.l. and Louis Vuitton Malletier SAS |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
Related Reports
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy