2022年全球奢侈品展望报告.doc

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1、2022年全球奢侈品展望报告TABLE OF CONTENTS Executive Summary 1 Introduction 2 Interwoven: Wealth and Luxury Market Growth 3 The Global Luxury City Index 7 Affinity for Luxury City Ranking 10 Affinity for luxury UHNW Profiles 13 Archetypes by Luxury Good Ownership 16 Changing Luxury Preferences 19 Methodology 2

2、1 About Wealth-X 22 WEALTH-X GLOBAL LUXURY OUTLOOK 2022: A WORLD OF CHANGING PREFERENCES EXECUTIVE SUMMARY 1 THE GROWTH OF WEALTH AND THE GLOBAL LUXURY MARKET ARE INTER 1 In the 15 years running up to 2022, the worlds wealthy population grew in size almost continuously. As wealth grew, so too did th

3、e world of luxury. The coronavirus pandemic, however, has brought years of industry growth to a halt. Still, many among the wealthy particularly the ultra wealthy have continued to spend on luxury during 2022, albeit in a different way. NEW YORK LEADS OUR GLOBAL LUXURY CITY INDEX, FOLLOWED BY TOKYO

4、AND HONG KONG. 2 Our index draws out the top 15 cities where wealth and luxury meet. Boasting more wealthy individuals than any other location in the world, the Big Apple is truly the city of 2 rich it also performs strongly in the index for its luxury retail footprint and luxury lifestyle opportuni

5、ties. 3 4 ASIA DOMINATES THE TOP 15 RANKING WITH 3 4 At the regional level, Asia accounts for eight cities, followed by North America (with five cities, all of them in the US). The luxury sector has grown enormously over the past two decades across Asia, with cities in China, Japan, Korea, Singapore

6、 and Taiwan among the top 15. The US remains the country with the highest number of cities attractive for luxury. 5 6 UHNW OWNERS OF PRIVATE JETS, YACHTS OR ART COLLECTIONS ARE DIFFERENT FROM ONE 5 6 Private jet owners tend to be male, less wealthy and comparatively younger than the other two cohort

7、s on account of many being in the business-building stage of their lives. Private yacht owners show the highest average net worth, while most art collectors are over 70 and show a much higher representation of women, at 22%. AGE, GENDER AND WEALTH SOURCE MATTER WHEN IT COMES TO INDIVIDUALS AFFINITY

8、FOR LUXURY. The level of propensity to own luxury assets changes according to different characteristics of the ultra high net worth (UHNW) population. At a high level of affinity, UHNW women show a slightly greater propensity than men, as do those who have inherited their wealth compared with the se

9、lf-made. The difference is particularly marked for people aged 50 to 70. THE PANDEMIC IS CHANGING THE LUXURY HABITS OF THE WEALTHY. The growth of online shopping and delivery, enabling luxury services to be provided in the privacy of the wealthys homes, will continue, while intangible assets namely

10、additional passports and on-demand healthcare will remain a priority. To prosper in such times, luxury brands must be flexible, quick moving and as attentive as ever to the changing demands of their clientele. INTRODUCTION Over the past decade, Wealth-X has published reports on a variety of luxury a

11、ssets, ranging from yachts and private jets to high-end real estate. In Wealth-X s new Global Luxury Outlook 2022: A World of Changing Preferences, we take a holistic view of the world of luxury, seeing it as its own category that includes luxury goods and lifestyle services, fine art, private jets,

12、 yachts, cars, travel, real estate and other assets. This report sheds light on how wealthy individuals approach luxury in their lives and how this is changing and we examine the many differences among the wealthy that exist under these two themes. While we define a wealthy individual as someone who

13、 has at least $1m in net worth, our analysis is mostly shown across the two tiers of wealth within our primary focus: VHNW ($5m to $30m) and UHNW ($30m and above). This report also occasionally delineates among the UHNW tier, which is significant when considering the ownership of large-ticket items

14、such as private jets and yachts. We first explore the interlocked relationship between wealth growth and the development of the luxury goods and services industry. No discussion can be complete, however, without touching on how the Covid-19 pandemic has brought much of the luxury industry to a stand

15、still and how it will continue to have a profound effect. From customer relationship management to marketing strategies and personalized solutions, data is becoming increasingly important to luxury brands around the world. We provide insight on the wealthy, not only at a country and city level but a

16、lso at the cohort and product level, which demonstrates the value of understanding the intricacies of your specific market metrics. Our Global Luxury City Index benchmarks cities on specific criteria to find the worlds top 15 cities where wealth, luxury retail and a luxury lifestyle are most deeply

17、entwined. We then dig a little deeper, analyzing the wealthy populations affinity for luxury, gaining an insight into how the level of propensity to own luxury assets varies among cities and according to certain key characteristics such as wealth source, gender and age. Via a study of archetypes, we

18、 also find that there are characteristic differences between the ultra wealthy individuals who purchase private jets, those who buy yachts and those who collect fine art. Finally, we take a look at how the wealthys luxury preferences are changing in these extraordinary times. Wealth-Xs Global Luxury

19、 Outlook 2022: A World of Changing Preferences provides exclusive insights on the intersection between luxury and wealth, making it an essential read for any provider looking to prospect for, target and engage with the wealthy. KEY DEFINITIONS Very high net worth (VHNW) individuals Those with a net

20、worth of $5m-$30m Ultra high net worth (UHNW) individuals Those with a net worth of $30m+ (also referred to as the ultra wealthy) ACKNOWLEDGMENTS We would like to thank the following individuals (listed alphabetically) for their valuable contributions to our research, adding both texture and deeper

21、insight: Alistair Brown | CEO, Alistair Brown International Real Estate Winston Chesterfield | Principal, Barton Jaclyn Sienna India | CEO, Sienna Charles INTERWOVEN: WEALTH AND LUXURY MARKET GROWTH In the 15 years running up to 2022, the worlds wealthy population grew in size almost continuously. T

22、he number of global millionaires (those with $1m+ in net worth) doubled over the 2022-2022 period to more than 25 million individuals. This increase was propelled by strong economic growth in Asia and other emerging economies, continued urbanization, transformative advances in digitization (led by t

23、he US tech giants) and, perhaps most of all, by a period of unprecedented liquidity from global central banks. As wealth grew, so too did the world of luxury. The global luxury market has undergone dramatic change, not only in size expanding from an estimated 147bn in 2022 to 1.3trn in 20221 but als

24、o in the breadth of services now offered by a more diverse range of providers, both large and small. Historically the preserve of the VHNW and those with even greater wealth, luxury products and amenities have become far more ubiquitous. INTERLOCKED: WEALTH AND GLOBAL LUXURY SPEND Global luxury mark

25、et (bn) Number of individuals with a net worth of $1m+ 1,400 1,200 1,000 800 600 400 200 20220 2022 30,000,000 THE GROWTH OF THE GROWTH OF THE GLOBAL LUXURY MARKET IS HEAVILY TIED TO GROWTH IN WEALTH 20,000,000 15,000,000 10,000,000 5,000,000 2022202220222022202220222022 2022 2022 2022 2022 2022 202

26、2 2022 2022 2022 2022 2022 2022 2022 2022 Note: Luxury market spend figures are based on estimates. Sources: Wealth-X; Bain Company Source: Bain Company (includes personal luxury goods, luxury cars, luxury hospitality, fine wines and spirits, gourmet food and fine dining, high-end furniture and hous

27、ewares, fine art, private jets, yachts and luxury cruises). To Table of Contents INTERWOVEN: WEALTH AND LUXURY MARKET GROWTH The huge expansion of the luxury sector in China and other emerging markets over the past decade shows the inextricable relationship between the demand for luxury items and th

28、e trajectory of wealth. In fact, the Asia region is now home to more wealthy individuals than Europe, though North America (led by the US) still remains the dominant region for global wealth, accounting for almost 40% of all VHNW and UHNW individuals. Moreover, although the luxury market in China an

29、d other parts of Asia has enjoyed robust growth, Europe and North America are still very much the leading global centers of luxury consumption, accounting for a WEALTH TIER dominant share. In part, this reflects strong growth in spending by Chinese consumers abroad across all of the worlds major lux

30、ury goods markets over the past decade. A SNAPSHOT OF THE WEALTHY AROUND THE WORLD NUMBER OF INDIVIDUALS BY WEALTH TIER 2022* EUROPE WORLD VHNW $5m-$30m 2,668,240 UHNW $30m+ 291,470 NORTH AMERICA ASIA 678,370 78,700 MIDDLE EAST 1,045,580 105,130 LATIN AMERICA AND THE CARIBBEAN AFRICA 73,680 9,770 72

31、3,790 83,260 PACIFIC THE HUGE EXPANSION OF THE LUXURY SECTOR IN CHINA AND OTHER EMERGING MARKETS SHOWS THE INEXTRICABLE RELATIONSHIP BETWEEN THE DEMAND FOR LUXURY ITEMS AND THE TRAJECTORY OF WEALTH. 74,590 8,080 24,800 2,690 47,430 3,840 *Data is likely to undergo some revision following the publica

32、tion of our World Ultra Wealth Report 2022. Note: Population numbers are rounded to the nearest 10. VHNW stands for very high net worth; UHNW stands for ultra high net worth. The size of the UHNW and VHNW circles are comparable to their own wealth tier, not to each other. Source: Wealth-X 4 WEALTH-X

33、 GLOBAL LUXURY OUTLOOK 2022: A WORLD OF CHANGING PREFERENCES WEALTH-X GLOBAL LUXURY OUTLOOK 2022: A WORLD OF CHANGING PREFERENCES 5 INTERWOVEN: WEALTH AND LUXURY MARKET GROWTH GROWTH HALTED BY COVID-19 The coronavirus pandemic, however, has brought years of industry growth to a halt. Buffeted by unc

34、ertainty and sudden declines across a range of wealth portfolios, not to mention the effects of national lockdowns and changing consumer behavior on the retail, travel and lifestyle markets, the vast majority of industry players are facing huge challenges to their businesses and the luxury sector is

35、 being transformed profoundly. Yet the global nature of these difficult conditions masks significant divergence among individuals. Many among the wealthy particularly the ultra wealthy have continued to spend on luxury during 2022 but have been doing this differently since the pandemic took hold. Wi

36、th high-end travel and restaurants largely unavailable, luxury services are increasingly being offered to the wealthy in their own homes. “With their homes worth in the millions and designed exactly the way they want them, the wealthy havent had the same sense of urgency to leave them.” Jaclyn Sienn

37、a India, CEO, Sienna Charles Restaurants are offering dine-at-home options and companies are providing home delivery of ingredients for the wealthys private chefs to use. Real-estate agents are seeing demand spiral for high-end properties that are closer to nature and offer security and safety. Auct

38、ion houses have pivoted towards online auctions and are reporting robust demand.2 Interest has grown in securing additional passports for, or residency of, countries considered more secure. Meanwhile, the private jet market has not been nearly as badly hit as the commercial airline industry. Private

39、 aviation started picking up towards the middle of the year, attracting new types of customers seeking to reduce the number of touchpoints that could be contaminated by the virus. In the process of adjusting to this new normal, the wealthys preferences and demands are altering in ways that will infl

40、uence on the luxury industry for many years to come (see Changing Luxury Preferences). MANY OF THE ULTRA WEALTHY HAVE CONTINUED TO SPEND ON LUXURY DURING 2022, BUT HAVE BEEN DOING SO DIFFERENTLY. Source: Financial Times THE GLOBAL LUXURY CITY INDEX What are the premier cities where wealth and luxury

41、 meet? Our Global Luxury City Index draws out the top 15 such cities around the globe. The index benchmarks cities on different criteria to find the locations where wealth, high-end retail and a luxury lifestyle come together. In compiling the index, we have incorporated three main themes, each comp

42、rising a category: the level and growth dynamics of wealth; the development of the luxury retail market; and luxury lifestyle. CATEGORIES AND INDICATORS High-end High-end restaurants Five-star hotels Casinos UHNW population and five-year forecast VHNW population and five-year forecast LUXURY LIFESTY

43、LE DEVELOPMENT OF THE LUXURY RETAIL MARKET Luxury store footprint - fashion (10 brands) Luxury store footprint - watches and jewelery (nine brands) WEALTH Note: For further details of the indexs methodology, please see the Methodology section. Source: Publicly available information and Wealth-X data

44、 and analysis. Each category comprises a number of indicators. These encompass key city metrics such as the current size of (and five-year forecast for) the UHNW and VHNW populations; the store footprint of the worlds foremost luxury fashion, watch and jewelry brands; and the number of high-end rest

45、aurants, five-star hotels and casinos. Each indicator is scored, with a weighted average of scores across the three categories giving a single overall score and city rank. The index ranks a total of 50 cities, selected on the basis of the size of their wealthy populations. Only those cities that sco

46、re relatively highly in all three categories make it into the top 15. To Table of Contents THE GLOBAL LUXURY INDEX GLOBAL LUXURY CITY INDEX City/rank Overall score (out of 100) BELOW WE HIGHLIGHT THE MOST NOTABLE FINDINGS: New York leads our Global Luxury City Index. Boasting more wealthy individual

47、s than any other city in the world, the Big Apple is truly the city of the rich. New York also performs strongly in the index for its luxury retail footprint and particularly for its luxury New York 1 Tokyo 2 Hong Kong* 3 London 4 Paris 5 Singapore 736Seoul Singapore 7 36 Seoul 8 34 Osaka 9 32 Shanghai 10 31 Chicago 11 29 Beijing 12 29