GLG Network Survey: Luxury Product Retailers

SURVEY DETAILS

TARGET POPULATION

GLG surveyed 70 luxury brand retailers / distributors across US and Europe (UK, France, Italy, Spain, and Germany).

What will you learn from this survey?

• Respondents were surveyed on current performance changes and expected future performance of the luxury products market.
• The survey also investigated the brands in highest demand within each product category, assessed brand’s image on various metrics and looked into what luxury brands should do to stay relevant.
• Lastly, the research analysed the cost changes in the industry, and the reasons behind those changes.

Example of findings:

• Nine-in-ten (90%) experts perceived a performance increase of 1-10% on the luxury goods market, compared to last year.
• Around nine-in-ten (87%) experts confirmed that there has been an increase in the costs of luxury goods.
• Balenciaga is being perceived as the most innovative (44%), the hottest among consumers (39%), and the most popular with GenZ consumers (63%).

DELIVERABLES

The GLG Surveys team drafted the questionnaire with the support of GLG Network Member, Helen David, Former Chief Growth Officer at Ralph & Russo Ltd.

The standard deliverable includes:

• 1 x Individual responses (“raw data”) in Excel.
• 1 x PPT report with aggregated data.
• Executive summary with key takeaways and highlights from the raw data.

SAMPLE QUESTIONS

• Which of the following best reflects your assessment for how the total luxury goods market is performing in your region currently compared to this time last year?
• Which measures are you taking to ensure your luxury fashion clients remain engaged with your products and range?
• Which, if any, of the following attributes is most important for a luxury brand to be successful? Please rank the top 3.
• Which, if any, of the following brands do you think has the highest demand for Handbags & Accessories? Please assess the current performance at an industry level, not within your own company.
• Which if, any of the following best reflects changes in cost of goods on luxury goods seen in 2023 so far compared to 2022?
• Across the luxury product industry, which brands are providing the most compelling realized margin?
• In your opinion, which luxury brands are most likely to move out of wholesale altogether? Please rank the top 3 most likely.

ACCESS

This survey is available to subscribers of the Consumer Goods and Services (CGS) sector (Limited subscriptions and above). This offer includes the raw data file and a high-level presentation through PowerPoint. Please contact your GLG representative for details on your firm’s access.

DISCLAIMER:

Please be advised that GLG Network Surveys operate differently than traditional GLG consultations, surveys, teleconferences, etc. and it is advisable that you consult with your firm’s legal and/or compliance department to review your use of the product and the payment for such work under your current subscription. 

By downloading this document and/or participating in the Network Survey, you understand and agree that the information and material provided by GLG, including survey results and survey proposal information, is provided for your own insight and informational purposes only. You further acknowledge and agree that this is a Network Survey for multiple GLG clients, and the results will be provided to all GLG clients that agree to participate in the Network Survey and GLG clients that agree to purchase the Survey results in the future. All survey results do not constitute investment advice or a recommendation. In using this Survey, you agree to hold Gerson Lehrman Group and the Survey respondents harmless and free of all liability as a result of your use of this Network Survey, other than liability resulting from the gross negligence or wilful misconduct of the protected party. You otherwise agree to be bound by Gerson Lehrman Group’s Usage Policies in your interactions with Gerson Lehrman Group and your receipt of services. These Survey results are for are for client’s own use and client shall not redistribute, disseminate, publish, or display the same, in whole or in part, to any third parties or publicly without the prior written permission of Gerson Lehrman Group, except explicitly set forth in your agreement with GLG. This survey will be double-blinded to both client and respondent. GLG reserves the right to restrict the number of clients that can pre-commit access. These Network Surveys are priced outside of standard GLG subscriptions but at a substantially reduced price to commissioning a fully proprietary GLG Network Survey. Upon finding these terms acceptable, please send an affirmative confirmation via email, which GLG will file in its records. Once confirmed, please note that the Client’s agreement to purchase the Network Survey is a legally binding and irrevocable commitment. If the survey is not included within your subscription, GLG will invoice Client for the fees due for the Network Survey. Please note that some respondents may not be Network Members, and the Terms and Conditions of Network Membership would not apply to such respondents and detailed records for them will not be available aside from the information that GLG capture in the Network Survey.