Sales

3.0 Bargaining power of buyers The main customers for luxury bearing attention be individual customers. 3.1 Number of customer in the food market harmonize to the offset of the luxury fashion industriousness in new-fashioned years,it is considered that eh fall of customer in this market is utmost. The compound annual growth rate for clothing, accessories and luxury goods increased by 5.1% in the midst of 2004 and 2009 (Clothing,aaccessories and luxury good Retaling,2011). Also,in 2010,Hermes recorded an increase of 38% of sales in the rest of Asia including Australia (Hermes 2010) . The increase in the industry growth rate and Hermes sales prove that people, particularly the gamey and tenderness class, be continuing buying luxury dress and the phone number of buyers is increasing. 3.2 Avail readiness of substitutes There is no substitute buyer for the luxury fashion industry apart(predicate) from individual customers. The reason for this comes from the high c ost of the product. Since high fashion clothes are expensive, it plumb impossible for retailers to make every profit selling them spikelet to another party.

Moreover, buyers of luxury goods are not only looking for at the product itself scarcely also prefer to be treated specially and are looking for a elegant shopping atmosphere and coal scuttle a workshop in departments like David Jones,Myer or merchandise will limit the ability of satisfying these particular requirements. Overall, the availableness of substitute buyers is low. 3.3 Analysis Given that the number of customer in the market is high and the availability of substitutes is low,the bar! gain power of buyers is moderate. http://www.datamonitor.com/store/Product/clothing_accessories_and_luxury_goods_retailing_in_australia?productid=DBVT5926If you want to nettle a full essay, high society it on our website: OrderCustomPaper.com

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