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Middle East Luxury Goods Market Outlook 2024: Opportunity & Growth Analysis, 2016-2024

<br>Middle East Luxury Goods Market is anticipated to expand at a compound annual growth rate of XX% during the forecast period i.e. 2016-2024. For more details read our full report: https://www.goldsteinresearch.com/report/middle-east-luxury-goods-market-size

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Middle East Luxury Goods Market Outlook 2024: Opportunity & Growth Analysis, 2016-2024

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  1. Middle East Luxury Goods Market Outlook Middle East Luxury Goods Market Outlook 2024: Opportunity & Growth Analysis, 2016-2024 Sample Request 99 Wall Street, Suite No:- 527, New York, NY 10005 United States of America Office No:- 504, 5th Floor, C-51, BSI Business Park, Sector-62, Noida, PIN:- 201301 India  Report Code :CR 1335 www.goldsteinresearch.com +1-646-568-7747 +1-437-886-1181 +44-203-318-6627 +91-120-473-0422, +91-991-071-6331 sales@goldsteinresearch.com Published By: Goldstein Research Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  2. Middle East Luxury Goods Market Size (USD Billion) & Growth Analysis Middle East Luxury Goods Market Size (USD Billion)-2016-2024 Sample Request Sample Source: Goldstein Research • Middle East Luxury Goods Marketis anticipated to expand at a compound annual growth rate of XX% during the forecast period i.e. 2016-2024. Furthermore, international brands expanding to Dubai will benefit greatly from the consumers preference of luxury buying as the local population considers shopping as an important social and entertainment destination, and leisure activity that are often practiced with friends (XX%), or sisters and mothers (XX%). • Moreover the shopping mall culture in the Middle East is vast, as consumers need somewhere to spend their days during the hot, humid climates seven months out of the year. Because of the generally hot climates, shopping culture will remain prominent in the Middle East as the consumers share a common interest in shopping and spend most of their weekends inside in the air conditioned malls. • Luxury brand loyalties will essentially be high as “there are a growing number of young educated consumers with a high disposable income. For instance, in the UAE there was a high consumption of luxury goods by consumers with a high per capita income of USD 45,000 on average in 2016. Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  3. Middle East Luxury Goods Market Outlook • The Middle East showcase solid growth rate globally, overall luxury goods industry growth is promising related to historic period. Middle East premium consumers are among the leading spenders on luxury goods, the tenth highest spenders in the world. According to Goldstein Research analysts, the demand for luxury and top-of-the -line products remains robust in the Gulf Cooperation Council (GCC) region despite the economic slowdown. • In Middle East, Especially in GCC countries XX% of consumers claims to have increased their spending over luxury goods compared to XX% in more mature markets such as Europe, Japan and United States. In past few years Middle East luxury goods industry has been through a period of expansion, as major companies have grown by extending their reach of their brand distribution network and opening new stores in the region. • The luxury goods marketin the Middle East provides immense opportunity for luxury brands: luxury goods markets in Abu Dhabi and Dubai have helped to promote these cities as desirable shopping destinations to shop for luxury brands. Well recognized big-name brands have achieved well in the region, and tourism is a major driver of sales of luxury accessories or Goods in Dubai. • In 2016, the value of women’s high-end watch sales in the region increased by XX percent year over year; in 2015, the rise was XX percent and the majority of sales are made in United Arab Emirates. In comparison, the value of women’s luxury timepiece sales globally grew only XX percent last year. • “The ladies like Goods with diamonds and bling,” and “Men tend to go for white gold, platinum or steel. The watch has to be very discreet, and often men try to match their watch to a pen and sometimes cuff links.” Middle East watch customers are big fans of ultra-exclusive timepieces such as limited editions and bespoke Goods. It is true that they tend to like larger models, high complications and audacious designs. Growing E-commerce Business Sample Growing Tourism Industry High Disposable Income Growth of Luxury Shopping Centers and Malls Middle East Luxury Goods Market (USD Billion) UAE Saudi Arabia Rest of Middle East USD XX Billion 2016 USD XX Billion USD XX Billion USD XX Billion 2024 USD XX Billion USD XX Billion Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  4. Middle East Luxury Goods Market Outlook Middle East Luxury Goods Market Share(%), By Region-2016-2024 Middle East Luxury Goods Market Size USD (Billion). 2016-2024 Sample Request XX% CAGR: (2016-2024) Sample Source: Goldstein Research Source: Goldstein Research In 2016,Luxury Accessories accounted for the highest market share XX% in Middle East luxury goods market WithXX%share in 2016, UAE dominated the Middle East Luxury Goods market Request For Sample Report: https://www.goldsteinresearch.com/request-sample/middle-east-luxury-goods-market-size Source: Goldstein Research Source: Goldstein Research Source: Goldstein Research Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  5. Sample Growth Drivers E-Commerce Turnover Per of the Global Regions-2015-2016 • Booming E-Commerce Industry • Despite strong fundamentals, the GCC is one f the world’s most challenging e-commerce playgrounds. With some of the world’s highest level of GDP per capita, the region is home to many people with large disposable incomes. Average mobile penetration stands at more than XX percent, and smartphones is at more than XX percent. In addition, more than two-thirds of the population uses the internet, with penetration in UA and Qatar exceeding XX% • Our study reveals that only XX percent of major GCC retailers have and e-commerce channel, compared with XX percent in the United States. However, with the right enablers in place, we believe the GCC e-commerce market could almost quadruple to reach USD XX billion by 2020. • For GCC retailers, the success of Omni channel strategies will depend mainly on their ability to develop a string online presence, provide robust payment mechanisms and invest in distribution and infrastructure. In addition, they will need to collaborate with regional governments to resolve the bottlenecks in policies that will remain crucial to the ongoing success of cross-border e-commerce ecosystem Source: Goldstein Research Online Watch Sales (USD Billion), by GCC Countries- 2016 • Impact Analysis:- • Continuing growth of online-driven business-to-business (B2B) and business-to-consumer (B2C) sales demand has magnified the criticality of meeting customer expectations. Shippers will directly improve win probability by reformulating e-commerce transportation strategy and executing operational practices that enable delivery speed and certainty – along with dependable and flexible service – to yield a better customer experience. High Medium Low Impact on Middle East Luxury Goods Market Source: Goldstein Research Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  6. Market Restraints Sample Request • Brand Awareness and Consumer Preferences • Ultimately, luxury brands, like most consumer facing brands, need to deliver an engaging, exciting and efficient shopping experience to all their customers regardless of channel. Social media allows the opportunity to issue short but frequent messages, which works really well for luxury brands as their products and image are inherently aesthetic - so their message carries well in this format. For example, the visual nature of Instagram, the social photo and video-sharing app, makes it a natural platform for luxury and fashion brands. In addition, the space constraints force the brands to be more conversational and approachable, which is an excellent way to engage fans and to reduce the perception of coldness, sometimes associated with luxury brands. • Luxury brands do not necessarily have to be small to be considered exclusive. Brand DNA is best maintained if the brand keeps control over the entire business, from the product design and sourcing of raw ingredients to distribution and marketing. Having complete control of where and how a product is sold is essential. Many brands are shifting towards opening more directly operated stores because that allows them to control how the product is displayed and presented to the final consumer, ensuring that all aspects of the brand DNA are properly transmitted. However, the idea that small is beautiful has not been lost on the luxury conglomerates - big luxury groGiorgio Armani SPA are looking to invest in early stage brands with growth potential. Sample Consumer Preferences (%) To Shop For Luxury Goods, By Different Demographics • Impact Analysis:- • Cargo life cycle assessment is necessary in order to comply with the norms and regulations. Thus, the assessment involves use of time and money and disrupting the manufacturing processes and eventually the supply of materials. High Medium Low Impact on Middle East Luxury Goods Market Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  7. Middle East Luxury Goods Market Outlook : 2016-2024 Sample Request Middle East Luxury Goods Market Share (%), By Distribution Channels, 2016-2024 • In 2017, e-tail accounted for XX% of middle east luxury goods consumption, and it is forecast to carve out a XX% share of the market in 2025. Faced with this e-tail acceleration, luxury labels are absolutely forced to adapt their strategies. • The luxury industry has accepted the idea that digital distribution is a priority, since it is one of its most significant growth vectors. Proof of this are the growing presence of luxury brands on the web in China, one of the key markets for the luxury goods industry today, and the increase in online sales of high-end products in the USA. • This kind of expansion has several strategic implications. The first, predictable one is the shrinking of brick-and-mortar store networks, starting with monobrand stores but especially affecting wholesale clients. According to analysts, this kind of 'rationalisation' is essential in order to preserve the perceived exclusivity of brands and their long-term value. 2024 2016 Sample Source: Goldstein Research Middle East Luxury Goods Market Y-O-Y Growth, By Transportation, 2016-2024 Source: Goldstein Research Middle East Luxury Goods Market Size (USD Billion), By Transportation Mode-2016-2024 Source: Goldstein Research Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  8. Middle East Luxury Goods Market Outlook By Online Distribution Channels: 2016-2024 Sample Request Middle East Luxury Goods Market Size (USD Billion), By Online Distribution Channels, 2016-2024 • "The web acts as a magnifying glass, exposing the shortcomings of brands with regards to their commercial policies, and their lack of control on their own distribution. This adds extra pressure to labels which are more dependent on the wholesale channel,“ • "The most likely scenario is that, in the next five years, luxury e-tail will become extremely crowded. Luxury brands will have largely developed their own e-tail capabilities. • With the entry of global brands, the GCC became a sizeable and one of the main growth markets globally. For the retailers, particularly in the luxury and premium segments, the period between 2004 and 2014 were their golden years. In the UAE alone, luxury goods market size has grown from USD XX billion in 2004 to USD XX billion during the decade, of which luxury Goods comprises significant share and more than XX% of the total sales took place in physical stores. Sample Source: Goldstein Research Middle East Luxury Goods Market Y-O-Y Growth, By Online Distribution Channels, 2016-2024 Source: Goldstein Research Consumer Preferences To Shop For Goods Within Different Channels, By Different Demographics Source: Goldstein Research Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  9. GCC Luxury Goods Market Attractiveness-By Country, 2016-2024 GCC Luxury Goods Market Attractiveness-By Country, 2016-2024 Sample Request CAGR (%) Market Size (USD Billion) Source: Goldstein Research Sample Luxury goods in the United Arab Emirates continued to witness slow growth due to the challenge of adjusting to local and global economic pressures starting in the year 2016. The luxury goods industry was reportedly one of the worst hit markets as shaken consumer confidence led to decreased demand, for which the supply needed to be adjusted. The United Arab Emirates is one of the most attractive markets in the Middle East region and is considered as the key long-term entry market for companies. Although the rate at which brands enter the luxury goods market or expand their stores in the region has slowed down, intense competition remains within the tight market and amongst existing players. Qatar Bahrain Saudi Arabia UAE Kuwait Oman North America GCC Luxury Goods Market BPS Analysis- By Country, 2016-2024 Source: Goldstein Research Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  10. Vision Value Visibility About Us Based in U.S., Goldstein Researchis a young business consulting and market research firm with vast reach across America, Asia and parts of Europe and the Middle East. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions. With 30+ domain experts and 50+ employees working day and night to crunch numbers and bring out the best and detailed market reports and forecasts, we strive to enable you to foresee upcoming market challenges and develop a robust business model and strategies, which would add to your profitability and market visibility as a brand. Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear cut forecasts. Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear cut forecasts. Sample Request Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  11. Vision Value Visibility Contact Us: For Research & Sales Related Queries +1-646-568-7747 +1-437-886-1181 +44-203-318-6627 +91-120-473-0422 +91-991-071-6331 sales@goldsteinresearch.com Corporate Office: 99 Wall Street, Suite No:- 527, New York, NY 10005 United States of America Office No:- 504, 5th Floor, C-51, BSI Business Park, Sector-62, Noida, PIN:- 201301 India  www.goldsteinresearch.com Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

  12. Middle East Luxury Goods Market Outlook Sample Request Thank you Connect With Us: Published By: Goldstein Research Copyright All Rights Reserved, Goldstein Research www.goldsteinresearch.com

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