European Luxury Analysis Report Says UK Will Become Retail Hotspot

A recent report by Conlumino, a retail analyst, showed that although luxury goods retail sales ranked third in Europe in the UK, it is expected to surpass Italy and France to win the first place in 2018 by successfully attracting luxury consumer groups.

The total retail value of luxury goods in the UK now stands at 17 billion 600 million US dollars, accounting for 15.8%, but it is expected to account for more than 19.6% by 2018.

In recent years, Britain has gradually developed into a popular tourist attraction for young and old, including young luxury consumer groups.

Shopping opportunities in London have grown and become more diversified over the years.

Maureen Hinton, director of Conlumino survey, said that because of the steady economic growth, the cultural and social advantages are obvious, and tourism and work visa procedures are simple.

Luxury items covered in the Conlumino survey report include

Jewellery watches, alcohol, personal care, home interior, luggage leather, consumer electronics and others.

For the future pattern of European luxury retail market, the report firmly believes that because of the poor economy of Italy and France in the top two, and the decline in household consumption, its luxury market share will be moved to the UK.

Germany, Russia and Spain, now ranked three or four and five, will remain the same.

The report mentions that Europeans are

Most of the garments were made up of garments, totaling 27 billion dollars, and jewellery, watches and accessories occupied second place in total 19 billion 800 million dollars.

Luxury sales in Europe are expected to exceed $149 billion 800 million by 2018.

The report found luxury goods group Louis Weedon's luxury goods in Europe.

The share is 13.9%, ranking first.

Both peaks and Kai Yun group are ranked behind 6.2% and 3.8% respectively.