It seems that the market for exclusive, super-luxury products continues its way upwards and it does so unstoppably. All figures offer positive growth values for these products developed under unsurpassed standards of luxury and quality. Manufactures are essential in this sense, but if there is a market that takes the cake in terms of luxury, that is that of automobiles.
Bain & Company, a consultancy specialized in the luxury sector, has issued a report in which it details that sales of exclusive products have invoiced a total of 865,000 million euros during the period of 2014. These data indicate, based on statistics that there are in this regard, which will increase considerably in 2015. But, up to now, we do not have precise and concrete reports on this matter.
When talking about exclusive or luxury products, reference is being made to all kinds of goods. From the textile markets to jewelry, including the most exclusive electronic products and the automotive sector. The latter is the one that concentrates almost half of the commercial operations carried out during the year 2014. This is due to various factors, including the significant rise of traditional luxury car manufacturers.
It must be borne in mind that luxury cars from brands such as Ferrari, Bentley or Rolls-Royce go on the market for very high prices, between 200,000 and 400,000 euros on average. This, obviously, means that the market share of the automotive sector is much higher than that of other exclusive product sectors such as fashion. Although, recently we commented in this same space that it is currently much more profitable to invest in a luxury bag from the house of Hermès than in gold.
The rise of luxury vehicles
Luxury cars continue to increase their sales year after year and, although it may seem complicated, they maintain their signs of exclusivity and design. According to the consulting firm Jato, ultra-luxury sports cars went from 73,000 sales (in 2012) to 105,000 during the 2014 period. And the increase for the 2015 financial year is expected to be even higher. In addition, the exclusive whims of the millionaires who decide to buy this type of exclusive products make the final price of each of the luxury items that they take home very expensive. Therefore, the personalization and customization of each exclusive product is the most important thing for luxury brands, since it is the way to properly monetize their exclusive products.
At this time, the markets that bet on exclusive products have taken a small turn. The United States continues to be in the lead, as always, but emerging markets such as China, India or Russia have slipped in second place.
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