Luxury mobile phones saw another year of significant decline in Germany in 2021, losing almost half of its volume sales in comparison with 2020. This was a continuation of an ongoing trend, which was accelerated by the outbreak of the pandemic in 2020.
Even though in the past, the purchase of luxury products was strongly connected to the in-store experience of buying products in Germany, this was already a little different within luxury smartphones and luxury wearables even before the pandemic. However, after the pandemic emerged, luxury portable electronics in Germany became increasingly driven by e-commerce, especially given the huge impact of influencers.
Frederique Constant remained the leader in luxury wearables in Germany in 2020, despite seeing a strong value decline. Also, Apple Hermès iWatch and Tag Heuer Connected, which held second and third positions in Germany, had to face huge declines in 2020.
Luxury wearables is expected to see slightly positive volume and current value CAGRs in the coming years, due to the potential of watches as a status symbol amongst German consumers. Thus, a niche of German consumers will be increasingly willing to invest in smart watches beyond mass-market models of Apple and Samsung, which will be favoured by ongoing new introductions by the leading brands.
Luxury mobile phones was already a declining category in Germany before the pandemic, and this is set to continue in the forecast period. There are many highly regarded non-luxury mobile phones from regular consumer electronics brands, such as Apple, Samsung and Huawei, which are taking customers away from luxury brands.
Despite the strong share growth seen in 2020, luxury portable consumer electronics is not expected to be as affected by the e-commerce trend in the coming years, as the purchase of luxury wearables or mobile phones remains an experience, and therefore many German luxury consumers will want to purchase in a store. This was already seen from the falling share of e-commerce in 2021.
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Understand the latest market trends and future growth opportunities for the Luxury Portable Consumer Electronics industry in Germany with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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Luxury portable consumer electronics include luxury mobile phones, luxury MP3 players and luxury wearables.
See All of Our DefinitionsThis report originates from Passport, our Luxury Portable Consumer Electronics research and analysis database.
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