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Luxury E-Tailing Market to Grow by USD 32.48 Billion from 2024-2028, Driven by Online Spending and Smartphone Use, with AI Powering Market Evolution – Technavio

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NEW YORK, Sept. 30, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The Global Luxury E-Tailing Market size is estimated to grow by USD 32.48 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 9.12%  during the forecast period. Rise in online spending and smartphone penetration is driving market growth, with a trend towards multichannel marketing  However, strict competition from offline channels  poses a challenge.Key market players include ASOS Plc, Authentic Brands Group LLC, Bed Bath and Beyond Inc., Burberry Group Plc, Chanel Ltd., Charms and Chains, Compagnie Financiere Richemont SA, Crate and Barrel, Harrods Ltd., Hennes and Mauritz AB, Hermes International SA, Hudsons Bay Co., Inter IKEA Holding B.V., Kering SA, Luxuryperfume.com Inc, LVMH Group., Moda Operandi Inc., Nordstrom Inc., Ralph Lauren Corp., and SDI (Brands 2) Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Luxury E-Tailing Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 9.12%

Market growth 2024-2028

USD 32483.9 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.15

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 51%

Key countries

China, US, Japan, Italy, and France

Key companies profiled

ASOS Plc, Authentic Brands Group LLC, Bed Bath and Beyond Inc., Burberry Group Plc, Chanel Ltd., Charms and Chains, Compagnie Financiere Richemont SA, Crate and Barrel, Harrods Ltd., Hennes and Mauritz AB, Hermes International SA, Hudsons Bay Co., Inter IKEA Holding B.V., Kering SA, Luxuryperfume.com Inc, LVMH Group., Moda Operandi Inc., Nordstrom Inc., Ralph Lauren Corp., and SDI (Brands 2) Ltd.

Market Driver

The luxury e-tailing market for premium cosmetics is thriving due to the significant impact of social media on consumer behavior. Consumers increasingly rely on social networking sites and blogs for product information. Vendors leverage platforms like Facebook, Twitter, Instagram, and YouTube to boost product awareness and engagement. Successful campaigns, such as Nykaa’s influencer marketing initiative for its clay it cool mask range in February 2023, underscore this trend. The expanding internet and smartphone penetration, along with increasing customer engagement practices by vendors, are key growth drivers for this market. 

Title: Luxury E-Tailing Market: Trends, Growth Drivers, and Competitor Landscape Introduction: The historic luxury e-tailing market has witnessed significant growth, driven by increasing online spending, smartphone penetration, and social media influence. In this report, we provide an overview of key trends, leading manufacturers, cost structure, sales and revenue analysis, price analysis, and supply chain analysis. Competitor Overview: Major players include Huda Beauty (Internet-native), LVMH Moët Hennessy Louis Vuitton SE (traditional luxury firm), and Kering (designer goods business). We profile these companies based on footprint expansion, supply chain optimization, and M&A activities. Market Dynamics: Growth is high due to consumer experience, digital engagement, and multichannel marketing strategies. Regulatory framework and reimbursement scenario are essential considerations. Table of Contents: 1. Executive Summary 2. Market Overview 3. Market Dynamics 4. Competitor Profiling 5. Cost Structure 6. Sales and Revenue Analysis 7. Price Analysis 8. Supply Chain Analysis 9. Trade Type Analysis 10. Product Type Analysis 11. Research Findings 12. Conclusion 13. Appendix 14. Methodology 15. Data Sources Primary Data Sources: Surveys, interviews, and focus groups with industry experts, executives, and consumers. Secondary Data Sources: Company annual reports, financial statements, industry reports, and databases. Analysts and Consultants: Our team of experts includes industry veterans, market analysts, and consultants. Key Trends: Online spending, smartphone penetration, social media, celebrity endorsement, product design, and innovation. 

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 Market Challenges

Consumers’ preference for seeing and touching luxury items before purchasing, such as personal care products, wine, spirits, home décor, home furnishings, and furniture, keeps the offline market for these products thriving. High-value transactions for infrequently bought items like furniture require consumers to explore various options and address queries on the spot, which offline stores provide. Security concerns hinder consumers from making significant online purchases. The offline home decor market benefits from an increase in product-specialty and brand-specific stores, which consumers trust for credibility and personalized attention. These factors pose a significant challenge to the growth of the luxury e-tailing market in the forecast period.Luxury E-tailing, or the sale of high-end and premium goods through digital platforms, presents unique challenges for tech-savvy firms. Small and medium businesses in this sector face hurdles in developing mobile apps for Windows, iOS, and Android platforms to cater to diverse customer preferences. Macroeconomic indicators and demand-side dynamics influence the luxury E-tailing market, with fashion, accessories, beauty, jewelry, watches, home décor, lifestyle products, business management, information technology, luxury food, and wine being popular categories. Personalization is key, requiring advanced business management and IT tools. B2B and B2C models use various e-commerce websites, mobile apps, and online marketplaces to reach exclusive and prestigious brands. Effective communication backbones, payment mechanisms, order fulfillment, and logistics are essential. Porter’s five-forces analysis can help understand the competitive landscape and regional market share.

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Segment Overview 

This luxury e-tailing market report extensively covers market segmentation by  

Product 1.1 Personal luxury1.2 Food and wine1.3 Home accessoriesChannel 2.1 Multibrand2.2 MonobrandGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Personal luxury-  The luxury personal luxury market encompasses watches, jewelry, accessories, shoes, bags, fragrances, cosmetics, glasses, headphones, and other premium items. The trend toward online shopping is escalating due to increasing Internet penetration and smartphone usage. Manufacturers broaden their distribution networks by collaborating with third-party e-retailers and launching their own websites. Tier-1 and tier-2 cities are significant targets for professional skincare product vendors, offering access to logistics and e-retailers for successful online distribution. Popular online retailers, like Amazon.com and Alibaba Group, provide a vast selection of luxury skincare products, including anti-aging, acne control, and pigmentation solutions. With the retail landscape evolving, online shopping offers opportunities for professional skincare product companies. Vendors, including LVMH, Kering Inc., Procter and Gamble Co., and L’Oreal SA, sell their products through their websites, contributing significantly to their revenue. Online platforms offer personalized shopping assistance and product comparisons, making them preferred channels for purchasing luxury personal luxury. Consumbers value secure transactions, cash-on-delivery options, convenient return policies, integrated consumer service, and 24-hour accessibility. Although the online distribution segment’s market share is low due to consumer preference for offline channels, it is projected to witness growth during the forecast period. Major cosmetics manufacturers, such as Beiersdorf AG, expand their professional skincare e-retail businesses through partnerships with distributors, like NetEase Kaola, to gain a competitive edge and increase online sales.

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Research Analysis

The luxury e-tailing market has experienced significant growth in recent years, driven by increasing online spending, smartphone penetration, and the influence of social media. Consumers are now able to browse and purchase designer goods from anywhere, at any time, using their mobile devices. Product design and innovation continue to be key differentiators in this market, with tech-savvy firms leveraging digital engagement and personalization to create unique shopping experiences. Publisher and designer goods businesses, as well as traditional luxury firms, are adapting to this new reality by launching mobile apps on platforms like Windows, iOS, and Android. Multichannel marketing and consumer experience are also critical factors, with small and medium businesses using macroeconomic indicators to navigate this dynamic market. Celebrity endorsement remains a powerful tool for driving sales, while the role of digital platforms in shaping consumer preferences and trends cannot be overstated.

Market Research Overview

Luxury e-tailing, or the sale of high-end and premium goods online, has seen significant growth in recent years. Driven by increasing online spending, smartphone penetration, and digital engagement, the market is witnessing innovation and multichannel marketing strategies from both designer goods businesses and traditional luxury firms. Social media and celebrity endorsements are also playing a crucial role in driving sales. The luxury e-tailing landscape is diverse, encompassing digital platforms such as e-commerce websites, mobile apps, and online marketplaces. Exclusive and prestigious brands in fashion, accessories, beauty, jewelry, watches, home décor, lifestyle products, business management, information technology, luxury food, and wine are all embracing the digital shift. Key components of luxury e-tailing include business management, information technology, B2B and B2C models, e-tailing components, micro environment analysis, and Porter’s five forces. This report delves into the macroeconomic indicators, demand-side dynamics, and electronic retailing trends shaping the luxury e-tailing industry. The report covers leading manufacturers, cost structure analysis, sales and revenue analysis, price analysis, supply chain analysis, trade type analysis, product type analysis, research findings, conclusion, appendix, methodology, and data sources. Stay tuned for a comprehensive overview of the luxury e-tailing market, including regional market shares, historic market data, competitor overviews, entry strategies, regulatory framework, reimbursement scenario, and more.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductPersonal LuxuryFood And WineHome AccessoriesChannelMultibrandMonobrandGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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ZNShine Solar Powers Honduras’ Renewable Future with 50MW Patuca Solar Project

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31 minutes ago

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March 26, 2025

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TERRERO BLANCO, Honduras, March 26, 2025 /PRNewswire/ — ZNShine Solar, a global leader in photovoltaic technology, today announced its role as module supplier for the 50MW Patuca Solar Project in Honduras. The project, developed by Empresa Nacional de Energía Eléctrica de Honduras (ENEE) and used Representaciones Mecánico Eléctricas, S.A. (REMESA) as EPC, represents a significant step in the country’s clean energy transition.

Financed through non-recourse debt by the Central Bank Honduras in December 2024, the project utilizes ZNShine’s high-efficiency 12BB PERC Monofacial Double-Glass Modules, selected for their:

Superior durability in harsh weather conditionsEnhanced energy yield for optimal performanceProven wind resistance, ideal for large-scale installations

Scheduled for commissioning in October 2025, the installation will significantly expand Honduras’ renewable energy capacity while supporting national energy security goals.

“Projects like Patuca demonstrate how advanced solar technology can drive sustainable development,” said William Wang, CEO at ZNShine Solar. “Our modules deliver the reliability and efficiency needed for Honduras’ energy future.”

About ZNShine Solar
A BNEF Tier 1 manufacturer and PVEL Top Performer, ZNShine Solar (founded 2006) delivers high-performance PV modules and integrated solutions across 60+ countries. With 10GW+ global capacity and manufacturing bases in China and internationally, the company is recognized for technological innovation in the Global Top 500 New Energy Enterprises.

View original content to download multimedia:https://www.prnewswire.com/news-releases/znshine-solar-powers-honduras-renewable-future-with-50mw-patuca-solar-project-302411874.html

SOURCE ZNSHINE

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Patent Index 2024: US Innovation Remains Strong Despite Global Economic Uncertainties

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32 minutes ago

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March 26, 2025

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U.S. ranks first in European patent applications, followed by Germany, Japan, China, and Republic of Korea European Patent Office (EPO) received nearly 200,000 patent applications last year, with U.S. companies and inventors contributing nearly a quarter of thoseKey sectors for the U.S.: Medical technology, computer technology and digital

MUNICH and NEW YORK, March 25, 2025 /PRNewswire/ — Companies and inventors from around the world filed 199,264 patent applications at the European Patent Office (EPO) last year, according to the Patent Index 2024 published today. The U.S. maintained its position as the top country of origin for European patent applications, followed by Germany, Japan, China, and the Republic of Korea. U.S. innovators filed 47,787 applications, accounting for 24% of the total at the EPO in 2024.

Overall, the high level of patenting activity at the EPO was on a par with the previous year (2023: 199 452, -0.1%), following three years of significant growth. Patent applications from Europe, including all 39 EPO member states, rose by 0.3%, while those from outside Europe fell slightly (-0.4%). Notably, R. Korea saw the strongest growth (+4.2%), China’s growth slowed to +0.5%, while companies and inventors from the U.S. (-0.8%) and Japan (-2.4%) filed fewer applications.    

“Despite global uncertainties, U.S. companies and inventors continue to invest in research and development,” said EPO President António Campinos. “The rapid rise of digital technologies and AI is spurring innovation across all sectors. In 2024, the U.S. was one of the main drivers in advancing computer technology to the top technology field at the EPO. This underscores Europe’s significance as a key technology market for U.S. companies, offering a high-quality patent system that supports the development of strong IP portfolios.”

U.S. Top Fields of Technology: Surge in Computers, led by AI
The leading fields of technology for U.S. applicants at the EPO reflect significant strengths in various high-growth industries. The top three in 2024 were:

Medical technology: top field with 5,995 applications, reflecting continued investment in healthcare innovation, although it experienced a slight decrease of 2.9% compared to 2023.Computer technology: with 5,776 applications, this field saw a significant increase of +11.4% from the U.S. Growth from the U.S. was even higher (+20%) in AI-related fields such as machine learning and pattern recognition.Digital communication: which includes inventions related to mobile networks, accounted for 4,628 applications, but experienced a decrease of 4.8%.

U.S. Tech Companies Lead Innovation Push
Out of all global applicants, six of the top 20 businesses with most applications at the EPO are U.S.-based. They include: semiconductor manufacturer Qualcomm (with 3,015 patent applications, ranking 4th globally), aerospace and defence company RTX (2,061 applications), Alphabet (1,171), Microsoft (1,131), InterDigital (863), and Apple (806).

Samsung back at No. 1 in EPO Applicant Ranking
Samsung was the leading filer of patent applications at the EPO overall in 2024 (having last topped the ranking in 2020), Huawei dropped to second, followed by LG, Qualcomm and RTX.

Further information

View the Patent Index 2024 in full

 

View original content:https://www.prnewswire.com/news-releases/patent-index-2024-us-innovation-remains-strong-despite-global-economic-uncertainties-302411878.html

SOURCE European Patent Office (EPO)

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Canaan Inc. Expands Self-Mining Footprint in North America

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32 minutes ago

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March 26, 2025

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New mining partnerships to add ~4.7 EH/s

Mining machines to be hosted at facilities in Pennsylvania and Texas

Self-mining energization expected in coming months

SINGAPORE, March 26, 2025 /PRNewswire/ — Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), an innovator in crypto mining, today announced that wholly owned subsidiaries of Canaan have signed agreements that expand the Company’s self-mining capabilities at two new partners’ mining facilities in Pennsylvania and Texas.

A three-year master colocation agreement has been entered into with Mawson Hosting LLC, an affiliate of Mawson Infrastructure Group Inc. (NASDAQ: MIGI), for its facility in Midland, Pennsylvania. This expansion in Pennsylvania, together with another recently executed 24-month equipment hosting agreement for a facility in Edna, Texas, is expected to add around 4.7EH/s of North American hashrate to Canaan’s self-mining computing power. The majority of this hashrate is expected to be installed by the second quarter of 2025.

“Our team has been evaluating mining sites across North America for several months, patiently looking for self-mining and partnership opportunities that made sense for our business.  We believe that these two new partners have goals that align with Canaan’s and that we can build long-term relationships with them,” said Nangeng Zhang, chairman and chief executive officer of Canaan.  “The U.S. has regulatory policies that support our Company’s ambitions, and we believe that we will be able to find additional partnerships and sites that will help us to increase our presence in the U.S. through self-mining activities and provide us with additional opportunities for mining machine sales.”

“We are delighted to announce the partnership between Canaan and Mawson. This agreement aligns with our strategy of optimizing digital infrastructure and compute management capabilities with the latest-generation machines. By combining Canaan’s cutting-edge hardware and Mawson’s digital infrastructure innovation, we expect to create long-term value that will benefit both companies as well as the overall ecosystem,” said Rahul Mewawalla, chief executive officer and president of Mawson Infrastructure Group Inc.

About Canaan Inc.

Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Canaan has extensive experience in chip design and streamlined production in the ASIC field. In 2013, Canaan’s founding team shipped to its customers the world’s first batch of mining machines incorporating ASIC technology in bitcoin‘s history under the brand name Avalon. In 2019, Canaan completed its initial public offering on the Nasdaq Global Market. To learn more about Canaan, please visit https://www.canaan.io/.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, Canaan Inc.’s anticipated financing plans and its intended use of proceeds contain forward-looking statements. Canaan Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Canaan Inc.’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; the expected growth of the bitcoin industry and the price of bitcoin; the Company’s expectations regarding demand for and market acceptance of its products, especially its bitcoin mining machines; the Company’s expectations regarding maintaining and strengthening its relationships with production partners and customers; the Company’s investment plans and strategies, fluctuations in the Company’s quarterly operating results; competition in its industry; and relevant government policies and regulations relating to the Company and cryptocurrency. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Canaan Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact

Canaan Inc.
Xi Zhang
Email: IR@canaan-creative.com 

ICR, LLC.
Robin Yang
Tel: +1 (347) 396-3281
Email: canaan.ir@icrinc.com 

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SOURCE Canaan Inc.

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