According to Goldstein Research, one major trend in the market is growing knowledgeable and inquisitive consumer population in Middle East. As verified by the vast demand for designer brand sales in UAE, consumers now pay more attention to worth, rather than just the brand or product itself. Moreover, in Middle East, Especially in GCC countries 70% of consumers claims to have increased their spending over luxury goods compared to 53% in more mature markets such as Europe, Japan and United States. Middle East Luxury Goods Market Outlook also includes product development, marketing strategy and investment strategies adopted by major market players in order to expand their business across the globe. Additionally, Kingdom of Saudi Arabia accounted for the largest market share of more than 35% of Middle East luxury goods market in 2017.In Middle East GCC countries are fastest growing markets for luxury cosmetic products owing to highest per capita spending over cosmetic products.
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Market Segmentation
On the basis of our in-depth analysis, Middle East luxury goods market can be segmented as follows:
By Product Type
• Designer Apparel and Footwear
• Accessories
• Jewelry
• Cosmetic and Beauty Products
• Fine wine & Spirits
• Others (Electric Gadgets etc.)
By Demography
• Men
• Women
By Distribution Channels
• Online Channel
• Offline Channels (Flagship Stores Etc.)
Based on Country
• Kingdom of Saudi Arabia (KSA) Luxury goods Market {Market Share (%), Market Size (USD Billion)}
• United Arab Emirates (UAE) Luxury goods Market {Market Share (%), Market Size (USD Billion)}
• Iran Luxury goods Market {Market Share (%), Market Size (USD Billion)}
• Qatar Luxury goods Market {Market Share (%), Market Size (USD Billion)}
• Oman Luxury goods Market {Market Share (%), Market Size (USD Billion)}
• Kuwait Luxury goods Market {Market Share (%), Market Size (USD Billion)}
• Bahrain Luxury goods Market {Market Share (%), Market Size (USD Billion)}
• Jordan Luxury goods Market {Market Share (%), Market Size (USD Billion)}
• Rest of Middle East Luxury goods Market {Market Share (%), Market Size (USD Billion)}
“Middle East Luxury goods Market Outlook 2024” contains detailed overview of the Middle East luxury goods market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by product type, by demography and by distribution channels.
Further, for the in-depth analysis, Middle East Luxury goods Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Rolex SA, Prada Group, Burberry Group plc, L’ORÉAL, SHISEIDO, ESTÉE LAUDER, LVMH, Coty, Chanel, Dior, Guerlain, Clarins, Clinique, Lancôme, Beiersdorf, Kering SA, The Swatch Group Ltd., Ralph Lauren Corporation and Hermes International Group. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents the Middle East luxury goods market trends along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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