Cufflinks market: Key market research findings
- Growth in online retailing
- Rising demand for customized cufflinks
Technavio has added a new market research report on the global cufflinks market to its apparel portfolio. The global cufflinks market is expected to grow at a CAGR of around 10% between 2015 and 2019, thanks to rise in urbanization and per capita expenditure in developing countries. Europe dominates the global market for cufflinks with a market share of around 37%. Much of the region’s growth can be attributed to the increase in the number of young, affluent individuals coupled with improvement in retail infrastructure.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for growth, as well as the segments with the maximum growth potential.
“Demand for customized cufflinks is an emerging trend in this market, owing to the difference in customer’s choices in terms of style and design. Lately, manufacturers are incorporating photos and monograms on cufflinks. Such customized cufflinks are gaining prominence as the customers can articulate their style and their unique character. Top brands like Armani, Gucci, and Hugo BOSS are integrating products to attract more consumers, such as offering cufflinks with tie in modern, attractive and elegant boxes,” says Sriram Mohan, Lead Analyst, Consumer Goods & Retail, Technavio Research.
Luxury cufflinks dominate the global cufflinks market in terms of revenue as they are quite expensive. These cufflinks are typically used while wearing dress shirts and are made of precious stones, platinum, and gold. Montblanc and Tateossian are the major producers of luxury cufflinks.
Rise in online retailing has significantly contributed to the growth in the cufflinks market. Greater access to smartphones and consumer banking systems has led to the increase in demand for cufflinks through the e-commerce medium. Moreover, customers avail off-price pricing, easy comparison of price and features without being physically present at the stores. Cufflinks.com and cufflinksdepot.com are some popular online sites among consumers.
The leading vendors in the global cufflinks market are Louis Vuitton, Tiffany, Paul Smith, Cartier, and Montblanc.The market is highly competitive with the presence of branded and private players. The vendors compete on the basis of product innovations, exclusivity, product differentiation, and technological design advancements.
A more detailed analysis is available in the Technavio report, Global Cufflinks Market – Market Analysis 2015-2019.
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