As cited by the research report titled ‘Global Accessible Luxury Goods Market: Analysis By Product, By Sales Channel, By Region, By Country (2020 Edition): Market Insights, COVID-19 Impact, Competition and Forecast (2020-2025)’, available with Market Study Report, global accessible luxury goods market amassed USD 137.8 billion in 2019 and is projected to expand significantly through 2025.
 

Growing urban population with easy access to internet, favorable government initiatives for internet accessibility for everyone, along with increasing smartphone penetration, and rising investments by several e-commerce players for expanding their geographical reach are the major factors driving the worldwide accessible luxury goods market growth. Additionally, changing lifestyle, preference to individualism, amplifying middle-income groups, and growing demand from millennials & gen Z are further enhancing the market outlook.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/2616837/
 

On the downside, the Covid-19 pandemic has restrained the market progression with store closures, consumers being restricted in their homes amid the strict lockdown, and disturbed distribution chains, with many countries of the world struggling with the coronavirus menace.
 

Based on product range, the industry is segmented into apparel & footwear, cosmetics & fragrance, jewelry & watches, and bags & accessories. Among these, apparel & footwear segment is likely to hold a considerable market share over the forecast duration, on account of rising brand awareness, availability of fine quality fabric at affordable rates, along with rising cognizance of developing individuality among gen Z.
 

Speaking of sales channel, global accessible luxury goods marketplace is divided into online and offline. As cited in the report, online shopping is gaining traction due to the closure of the stores amid Covid-19 pandemic. Further, the companies have started using artificial intelligence & automation to enhance the digitization process to improve the resilience of the supply chains.
 

Geographically, Asia Pacific (China, India, Japan, South Korea), Europe (United Kingdom, Spain, Italy, France), and North America (United States, Canada) are major contributors to the overall industry value.
 

Prominent players influencing the worldwide accessible luxury goods industry growth trends are Coach IP Holdings LLC, Gucci, Twinset Milano, Phillip Lim, Pinko, Alberta Ferretti, Isabel Marant, Sandro, Ted Baker plc, and Elisabetta Franchi.