Jan 15, 2025
Luxury Brands Look to U.S. as Chinese Market Weakens
Amid forecasts for a weakened Chinese market, global luxury goods companies are gearing up to woo U.S. shoppers with lavish diamond jewelry and exquisite leather handbags. According to a report from Yahoo Finance, retail executives aim to capitalize on the wealth in the United States stemming from robust stock market performance and the rise in cryptocurrencies. Proposed tariffs by U.S. President-elect Donald Trump are also expected to boost the dollar, increasing the purchasing power of Americans for European luxury goods.
This strategic shift comes as the 363 billion euro ($373.16 billion) global luxury goods market faces its slowest sales rates in recent years. China’s sluggish economy and property crisis have stifled demand for luxury items, while rising living costs in Europe have curbed extravagant spending. The sector, which experienced a tumultuous stock market ride following the post-pandemic spending spree decline, is bracing for a potentially weak performance, with LVMH’s market cap shedding over 30 billion euros in the last six months.
In the United States, credit card spending on luxury brands showed signs of recovery as December saw a 1% year-on-year increase, marking the first positive change in over two years, driven by improved sales of leather goods and clothing. The luxury industry, hoping for a fortuitous turnaround, is counting on American consumers after decades of reliance on Chinese buyers.
According to analysts, the volatility is set to persist, though U.S. sales indicate a potential improvement. Barclays analysts, following a survey in China, predict a milder decline in fourth-quarter sales compared to the previous quarter. However, they warn of the absence of a “meaningful and sustainable demand recovery” in China, as even affluent consumers are reining in expenses. The shift towards premium brands with modest price points, such as Laopu Gold, Arcteryx, and Coach, highlights this trend.
The sector anticipates a growth of around 4% by 2025, with American consumers driving over a third of the global expansion, increasing by 7%. In contrast, Chinese consumer spending is expected to decline by 1%, according to IndexBox data.
Upcoming earnings reports from industry giants like LVMH, Kering, and Hermes will set the tone for the luxury market’s direction, with insider insights suggesting varying fortunes across the sector. “Typically after difficult periods for the luxury industry, you have big winners and big laggards,” remarks Caroline Reyl, head of premium brands at Pictet Asset Management. “Not everybody is going to win.”
Source: IndexBox Market Intelligence Platform
This report provides an in-depth analysis of the global jewelry market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
Prodcom 32121330 – Articles of jewellery and parts thereof of precious metal (including plated, clad) Prodcom 32121351 – Articles of goldsmithsProdcom 32121353 – Articles of goldsmithsProdcom 32121355 – Articles of goldsmiths
Country coverage:
Worldwide – the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
+ the largest producing countries
Data coverage:
Global market volume and valuePer Capita consumptionForecast of the market dynamics in the medium termGlobal production, split by region and countryGlobal trade (exports and imports)Export and import pricesMarket trends, drivers and restraintsKey market players and their profiles
Company coverage:
PIAGET SA, TIFFANY & CO, TONY GOETZ NV, BULGARI IRELAND LTD, GRAFF DIAMONDS LTD, SWAROVSKI NORTH AMERICA LTD, CARTIER JOAILLERIE INTERNATIONAL SAS, BULGARI GIOIELLI SPA, PANDORA JEWELLERY LLC, HARRY WINSTON INC.,Chopard, Rajesh Exports, Signet Jewelers, Moët Hennessy Louis Vuitton, Titan Company Ltd., Shanghai Laofengxiang Co., Chow Tai Fook Group, Chow Sang Sang Holdings International Ltd., ZheJiang Sun & Moon Jewellery Group and Goldleaf Jewelry Co.
Reasons to buy this report:
Take advantage of the latest dataFind deeper insights into current market developmentsDiscover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
How to diversify your business and benefit from new market opportunitiesHow to load your idle production capacityHow to boost your sales on overseas marketsHow to increase your profit marginsHow to make your supply chain more sustainableHow to reduce your production and supply chain costsHow to outsource production to other countriesHow to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
REPORT DESCRIPTION
RESEARCH METHODOLOGY AND AI PLATFORM
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
KEY FINDINGS
MARKET TRENDS
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
MARKET SIZE
CONSUMPTION BY COUNTRY
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
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PRO
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
BEST-SELLING PRODUCTS
MOST CONSUMED PRODUCT
MOST TRADED PRODUCT
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
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PRO
TOP COUNTRIES TO SOURCE YOUR PRODUCT
TOP PRODUCING COUNTRIES
TOP EXPORTING COUNTRIES
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
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TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
TOP CONSUMING MARKETS
UNSATURATED MARKETS
TOP IMPORTING MARKETS
MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
PRODUCTION VOLUME AND VALUE
PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
IMPORTS FROM 2012–2024
IMPORTS BY COUNTRY
IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
EXPORTS FROM 2012–2024
EXPORTS BY COUNTRY
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
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11. COUNTRY PROFILES
The Largest Markets And Their Profiles
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United States
China
Japan
Germany
United Kingdom
France
Brazil
Italy
Russian Federation
India
Canada
Australia
Republic of Korea
Spain
Mexico
Indonesia
Netherlands
Turkey
Saudi Arabia
Switzerland
Sweden
Nigeria
Poland
Belgium
Argentina
Norway
Austria
Thailand
United Arab Emirates
Colombia
Denmark
South Africa
Malaysia
Israel
Singapore
Egypt
Philippines
Finland
Chile
Ireland
Pakistan
Greece
Portugal
Kazakhstan
Algeria
Czech Republic
Qatar
Peru
Romania
Vietnam
LIST OF TABLES
Key Findings In 2024
Market Volume, In Physical Terms, 2012–2024
Market Value, 2012–2024
Per Capita Consumption, By Country, 2018–2024
Production, In Physical Terms, By Country, 2012–2024
Imports, In Physical Terms, By Country, 2012–2024
Imports, In Value Terms, By Country, 2012–2024
Import Prices, By Country Of Destination, 2012–2024
Exports, In Physical Terms, By Country, 2012–2024
Exports, In Value Terms, By Country, 2012–2024
Export Prices, By Country Of Origin, 2012–2024
LIST OF FIGURES
Market Volume, In Physical Terms, 2012–2024
Market Value, 2012–2024
Consumption, By Country, 2024
Market Volume Forecast to 2030
Market Value Forecast to 2030
Products: Market Size And Growth, By Type
Products: Average Per Capita Consumption, By Type
Products: Exports And Growth, By Type
Products: Export Prices And Growth, By Type
Production Volume And Growth
Exports And Growth
Export Prices And Growth
Market Size And Growth
Per Capita Consumption
Imports And Growth
Import Prices
Production, In Physical Terms, 2012–2024
Production, In Value Terms, 2012–2024
Production, By Country, 2024
Production, In Physical Terms, By Country, 2012–2024
Imports, In Physical Terms, 2012–2024
Imports, In Value Terms, 2012–2024
Imports, In Physical Terms, By Country, 2024
Imports, In Physical Terms, By Country, 2012–2024
Imports, In Value Terms, By Country, 2012–2024
Import Prices, By Country, 2012–2024
Exports, In Physical Terms, 2012–2024
Exports, In Value Terms, 2012–2024
Exports, In Physical Terms, By Country, 2024
Exports, In Physical Terms, By Country, 2012–2024
Exports, In Value Terms, By Country, 2012–2024
Export Prices, 2012–2024
