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Korea Luxury Brands Report 2019 - ResearchAndMarkets.com

November 13, 2019 GMT

DUBLIN--(BUSINESS WIRE)--Nov 13, 2019--

The “Korea: Luxury Report 2019” report has been added to ResearchAndMarkets.com’s offering.

We will be looking at purchasing behaviour, motivations, media channels and brand preferences of the highly affluent consumers when it comes to purchasing premium and luxury products and services.

Brand selection: For past purchase/ownership and future purchase plan questions, we have selected brands that are well-known luxury brands and/or are part of the competitive set of our subscribers’ brands. For brand image questions, we include subscriber brands, as well as, a sub-set of high-end luxury brands that have shown to be the most popular in our research.

Affluent South Koreans show some optimism when it comes to their outlook on future spend, 89% of them reported to be rather confident in the coming year. Positive shifts are expected across categories, but travel is the area that is expected to benefit the most. Outbound tourism in South Korea has been steadily growing in the past 3 years.

According to the Korea Tourism Organization, the number of Korean outbound travellers increased by 8.3% in 2018 compared to the previous year. Five in 10 affluent Koreans plan to increase their spending on travel, while 4 in 10 looks at making more trips abroad. On the other hand, the amount that they plan to spend on luxury goods is expected to generally stay the same in the coming year.

The 2019 Luxury Study covers premium brands across the following categories:

Key Topics Covered:

SECTION A: LUXURY PERCEPTIONS AND PURCHASE BEHAVIOUR

SECTION B: FASHION

SECTION C: WATCHES & JEWELLERY CATEGORY

SECTION D: SKINCARE & MAKEUP

SECTION E: ALCOHOL

SECTION F: FINANCES

SECTION G: TRAVEL

SECTION H: PROFILING

For more information about this report visit https://www.researchandmarkets.com/r/huu2a5

View source version on businesswire.com:https://www.businesswire.com/news/home/20191113005691/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

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KEYWORD: ASIA PACIFIC SOUTH KOREA

INDUSTRY KEYWORD: LUXURY RETAIL

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 11/13/2019 12:10 PM/DISC: 11/13/2019 12:10 PM

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