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The personal luxury goods market size is forecast to increase by USD 27.2 billion at a CAGR of 1.73% between 2023 and 2028. The market is experiencing significant growth, driven by the increasing demand for premium products across various categories, including watches, jewelry, cosmetics, and clothing. This trend is fueled by consumers' desire for high-quality, unique, and innovative offerings. Additionally, the integration of technology into luxury goods, such as Mecanique Collection's smartwatches, is adding value and attracting tech-savvy consumers. However, the market faces challenges such as rising labor costs and fluctuating raw material prices, which can impact profitability. Despite these challenges, the market is expected to continue its growth trajectory, driven by the low-income group's increasing disposable income and their aspiration to own luxury goods. Overall, the market in the US offers significant opportunities for growth, particularly for companies that can effectively address these market trends and challenges.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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