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Experiential Luxury in South Korea

  • ID: 4968474
  • Report
  • January 2021
  • Region: South Korea
  • 19 pages
  • Euromonitor International
The impact of COVID-19 was not as severe in South Korea for most luxury goods, but experiential luxury suffered due to the sharp decline in the number of tourists visiting the country. According to Korea Tourism Organization, the number of inbound tourists seen over January to June 2020 declined by 75%, and if considering June alone declined by 98%. Local visits also fell during the first half of the year. However, with the summer vacation season, experiential luxury demonstrated some progress.

The Experiential Luxury in South Korea report offers a comprehensive guide to the size and shape of the Experiential Luxury market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market and their effects on Experiential Luxury retailing along with the development of consumers’ shopping patterns. Forecasts to 2025 illustrate how the market is set to change

Product coverage: Luxury Foodservice, Luxury Hotels.

Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?
  • Get a detailed picture of the Experiential Luxury market;
  • Pinpoint growth sectors and identify factors driving change;
  • Understand the competitive environment, the market’s major players and leading brands;
  • Use five-year forecasts to assess how the market is predicted to develop.
Note: Product cover images may vary from those shown
KEY DATA FINDINGS

2020 IMPACT
  • Incoming tourist slump hits hard, but to some extent offset by domestic spending
  • Hotels remain open despite COVID-19
  • TV homeshopping used to increase reservations
RECOVERY AND OPPORTUNITIES
  • Gradual recovery expected, local consumers to remain important
  • Individual trips to benefit experiential luxury
  • August surge in cases has medium-term ramifications
CATEGORY DATA
  • Table 1 Sales of Experiential Luxury by Category: Value 2015-2020
  • Table 2 Sales of Experiential Luxury by Category: % Value Growth 2015-2020
  • Table 3 NBO Company Shares of Experiential Luxury: % Value 2015-2019
  • Table 4 LBN Brand Shares of Experiential Luxury: % Value 2016-2019
  • Table 5 Forecast Sales of Experiential Luxury by Category: Value 2020-2025
  • Table 6 Forecast Sales of Experiential Luxury by Category: % Value Growth 2020-2025
EXECUTIVE SUMMARY
  • COVID-19 impact on luxury goods
  • COVID-19 country impact
  • Company response
  • Retailing shift
  • What next for luxury goods?
MARKET INDICATORS
  • Table 7 Number of High Net Worth Individuals (HNWI): 2015-2020
MARKET DATA
  • Table 8 Sales of Luxury Goods by Category: Value 2015-2020
  • Table 9 Sales of Luxury Goods by Category: % Value Growth 2015-2020
  • Table 10 Inbound Receipts for Luxury Goods by Country of Origin: Value 2015-2020
  • Table 11 NBO Company Shares of Luxury Goods: % Value 2015-2019
  • Table 12 LBN Brand Shares of Luxury Goods: % Value 2016-2019
  • Table 13 Distribution of Luxury Goods by Format and Category: % Value 2020
  • Table 14 Forecast Sales of Luxury Goods by Category: Value 2020-2025
  • Table 15 Forecast Sales of Luxury Goods by Category: % Value Growth 2020-2025
DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES
  • Summary 1 Research Sources
Note: Product cover images may vary from those shown
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