Concerns about the state of the global economy don’t seem to be slowing the worldwide appetite for luxury goods, according to research released by business consulting firm Bain & Company in October 2012. In fact, total demand for luxury goods has remained very strong, with worldwide revenues estimated to have grown 10% in 2012.
Growth in Asia-Pacific, driven by China, is expected to be especially sharp, with sales jumping by 18%. Men, too, were making a name for themselves in the worldwide luxury goods market, accounting for an estimated 41% of purchases in 2012. Read the rest at eMarketer.