When it comes to luxury travel, the JG Black Book team is well-acquainted with the current trends. Most recently, a study released by the Digital Luxury Group (DLG) indicates an increase in luxury spending in Brazil. The luxury industry intelligence group combed through 20 million online searches from January to June 2012 and then compiled this Brazilian consumer information into the World Luxury Index Brazil report.
In addition to determining which brands were most appealing to Brazilians (Audi, BMW, and MAC Cosmetics were at the top of the list), DLG also found that 80% of luxury products purchased by these consumers are actually acquired abroad. For example, approximately 1 million tourists from Brazil visit New York to shop every year. CEO David Sadigh explains, “They are brand conscious, impulsive and much bigger spenders than the average international tourist visiting the Big Apple.”
Here’s a list of the top 10 most searched-for brands overall:
- MAC Cosmetics
- Mercedes Benz
- Range Rover
Since 2012, it is believed that an interest in luxury brands increased by 24%, which makes the luxury market in Brazil to be worth approximately $12 billion! Sadigh urges luxury companies to take advantage of this promising trend: “A strong presence in Brazil will be key for luxury and fashion brands willing to take advantage of this international clientele.”
Check out the full report.
-the JG Black Book team