UK luxury market is expected to double in the next five years, according to a study

  A study of the British luxury industry, the industry expects nearly doubled in size over the next five years 2017-12200000000 pounds of £ 6.6 billion in 2012. Luxury UK 2013 reference was produced jointly by Walpole, an industry group, non-profit organization that represents the British luxury industry and Ledbury Research, a market research firm specializing in the luxury sector. The researchers interviewed managers and entrepreneurs for the luxury industry, including clothing and accessories, travel and hospitality, and jewelry.

"Despite the impact of the euro crisis and the difficult economic environment, the British luxury industry is extremely robust and is expected to grow significantly in size," said Julia Carrick, CEO of Walpole, in a statement. Optimism is the prevailing sentiment - a full 83 percent of respondents to the survey trademarks expect sales to increase in 2013.

Sales to tourists are of crucial importance for the industry, said 64 percent of respondents said they would mark a specific buyer from abroad with initiatives such as the implementation of international payment methods and leasing provider with specific language skills. Chinese visitors are the most active buyers of luxury group, although the Americans still represent a significant portion of tourism revenues.

Search brands in the growing emerging markets. As the site of the next Summer Olympic Games and the Football World Cup Games, Brazil has become an important geography for luxury brands in the United Kingdom, while only 13 percent of the brands currently are operations, 52 percent intend to enter the market. While India remains an important market, brands are finding the lack of infrastructure and navigation in organizations that regulation. South Korea, Mexico and Southeast Asia is also mentioned as areas of interest.

In the UK, London is still the main center of activity for luxury brands, but a large majority (81 percent) outside the capital. Remarkably, Manchester had followed the highest sales outside of London, closely followed by Edinburgh.

"Behind some minor characters, this year's results show the important innovation for the British luxury market issue," said James Lawson, director of Ledbury Research, "Innovation in brands - including the use of technology and social media - and a new generation of new and curious luxury consumers who are avid users of these new platforms. "

In fact, more and more digital capacity is the highest priority for the brand this year, they include investments in e-commerce platforms, social media, and increasingly mobile commerce. However, almost all respondents believe (98 percent) that the brands commitment to the "next generation" of the buyer will be a challenge.