CEO Survey indicates optimism in luxury, with 9% rise in luxury sales for the next year
Ledbury Research, in partnership with DEPARTURES have announced the inaugural findings from the DEPARTURES Global Luxury CEO Survey. Revealed this past week at the exclusive DEPARTURES Executive Briefing series at CORE Club in New York City, the DEPARTURES Global Luxury CEO Survey examines on a quarterly basis how global luxury business leaders feel about the health of the luxury industry and the drivers for growth over the next six to twelve months.
The inaugural findings showcased an increased level of optimism from CEO’s for the luxury marketplace and 89 percent of respondents expect North America to be the primary growth driver in sales for luxury business over the next five years. 45 percent surveyed believe the Chinese growth rate is advantageous for luxury business growth. 95 percent of respondents said that business with their VIP customers is growing and 86 percent indicated that increasing their focus on higher end products and top-tier customers, as well as raising prices, is a focus.
The Survey was conducted in two installments; beginning with an online survey completed anonymously by Chairmen, CEO’s and Presidents of renowned luxury businesses around the globe and across a variety of sectors. The second phase entailed a series of qualitative interviews providing additional context and deeper understanding of the data gathered.