Luxury goods market expanding
PR dla Zagranicy
Nick Hodge
05.12.2014 09:04
By the end of 2016, the number of wealthy Poles will have reached 1 million and they will be spending some 13.3 billion zloty (3.2 billion euro) on luxury goods, a KPMG report forecasts.
Photo: Glowimages
The consultancy defines a wealthy person as one with a gross monthly income of at least 7,100 zloty (1,700 euro).
By the close of 2015, there should be 878,000 wealthy consumers in the country and the value of the luxury goods market is expected to be 12.6 billion zloty (3.02 billion euro).
“The luxury goods market is showing very promising growth,” said KPMG partner Tomasz Wisniewski.
“By 2017 it will grow to 14 billion zloty (3.37 billion euro) and the average annual growth rate will be 4 percent.”
He expects the hotel and spa segment to grow most, followed by jewellery and watches.
“Another category that is significant is private jets. We estimate this market segment's value at 64 million zloty (15.4 million euro).”
Luxury and premium cars have the biggest share in the market, contributing some 5.6 billion zloty (1.35 billion euro) in 2013.
Clothes and accessories accounted for 2.2 billion zloty (0.53 billion euro), hotel services for 1.3 billion zloty (0.31 billion euro), real estate for 1.1 billion zloty (0.26 billion euro) and furniture for 0.6 billion zloty (0.14 billion euro).
“The average wealthy Pole is between 40-60 years old,” Marczak said.
Some 65 percent of the group surveyed by KPMG treat purchasing luxury goods as an investment. (kw)
Source: ISBnews