MARKHAM, 19 June 2012 - The Canadian appetite of Generation Y for luxury fashion, restaurants, travel and much older than the demographics
MARKHAM, 19 June 2012 / PRNewswire / - The luxury sector in Canada has proven resistant to economic uncertainty in relation to this sector in Europe and the United States, according to data released today by American Express Business Insights. The optimism among Canadians seem to be increasing, while luxury spending has increased, but what is most surprising that in a flexible labor market, young Canadians have the luxury to spend Canadians dominate growth in key areas of fashion, travel and gastronomy.
These results, its proprietary research, are based on current data and aggregate expenditure for 2009 is based to 2011, suggest that not only the luxury segment of Canada, at least by the downturn (down 9% in 2009 affected) than their counterparts in the U.S. and Europe (minus 14% and 10% respectively), but the level of spending in Canada have recovered faster. Europe and the U.S. have not yet reached pre-recession spending in the luxury segment, while Canada has the luxury expenditure, increased overall since 2009.
"Makes a strong partner for many Canadian companies with the ability to better understand the buying behavior of consumers, we help our dealers improve their business planning and marketing programs," says Colin Temple, vice president and general manager of Merchant Services, American Express Canada. "What we saw in Canada, that even in times of economic uncertainty, consumers not to withdraw from luxury spending."
Gen Y dominated spending luxurious Canadian growth, while their parents a break before making a transaction to issue Canadian Gen Y is ready when it comes out may have to be at night. In recent years, the Generation Y was the driving force of growth in the luxury market, with increased focus on luxury fashion by 33 percent from 2009 to 2011, 74 percent more travel costs for the same period, and an astonishing increase of 102 Pass percentage of fine cuisine. Conversely, the data show that older generations, who once dominated the luxury market, showed a slower growth pass over the same period:
Gen X spending on luxury fashion increases by 33 percent, eating trips by 15 percent and 31 percent by the end
Boomers increased spending on luxury fashion by 24 percent to 6 percent, food and travel by 15 percent
Seniors spend on luxury fashion increased by 2 percent, a decline in travel by 3 percent and a decline in fine dining than 1 percent
"The luxury market is his gaze on the young generation," says Temple. "The whole population has become an integral part of business growth as the older generations to the market is starting to leave."
The consumption of luxury in New Canada accounted for newcomers, or consumers who have not a luxury, before spending for 42 percent of total Canadian luxury buyers in 2011. However, despite the largest share of luxury consumers, newcomers have the average transaction size below.
"The data show that the newcomers are essential for the luxury market," says Temple. "Although these consumers are merely their toes dip into the pool of luxury now, we see great potential for this demographic group to really embrace the lifestyle of luxury boutiques and become loyal to the category of time."
Although newcomers are part of the landscape of the Canadian luxury, this particular group made up only 22 percent of luxury shoppers in the U.S. In the UK, accounting for new entrants to only 17 percent of luxury shoppers in total for 2011.
Interesting Online Insights A consistent element in all cardholders of Canadians is that they shop online for luxury goods such as:
Gen Y grew luxury fashion line by 15% year over year growth in 2009 to 53% annual growth in 2011
Gen X has grown from one to the previous year in% in 2009 to 32% year over year in 2011
Baby boomers grew year on year by 3% in 2009 to 45% year over year in 2011
In elderly people compared to the same month in 2009 to 30% 4% year over year in 2011
Meanwhile, research has a new appreciation for men online browsing haute couture has made. In the past three years, the proportion of Canadian men online fashion boutiques increased significantly by men of Generation X. In fact, resulted in 2011 were 60% of all buyers of Generation X in the luxury space men.
没有评论:
发表评论