The aggregate financial results of more than 25 global luxury marketers shows an average revenue growth of 10.9 percent for 2005, according to a new study by Unity Marketing.

That figure comes on top of an average growth of 14.5 percent in 2004.
Swiss luxury conglomerate Richemont remains among the fastest growing luxury companies, along with Orient Express Hotels, Coach and Polo Ralph Lauren, all reporting growth of 18 percent or more in 2005.

Unity Marketing estimates the U.S. luxury market reached more than $1 trillion last year, an 11.6 percent increase over 2004. Among luxury consumers, average spending on personal luxuries, a category that includes jewelry and watches, wine and spirits, luxury apparel and more, increased 5.6 percent to $10,007 in 2005.

The report shows an increased focus on spending significantly more on experiential luxuries instead of material goods. The typical luxury consumer spent $22,476 on experiences in 2005, almost twice the average amount spent in 2004.

Luxury consumers spent close to 20 percent more in 2005 on automobiles, according to the study.


Source : nationaljeweler.com

www.nationaljeweler.com