Luxury Goods in China

December 2021
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Overview:

Understand the latest market trends and future growth opportunities for the Luxury Goods industry in China 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.

Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:

  • Experiential Luxury
  • Luxury Hotels
  • Fine Wines/Champagne
  • Premium and Luxury Cars
  • Personal Luxury
  • Designer Apparel and Footwear
  • Luxury Eyewear
  • Luxury Jewellery
  • Luxury Leather Goods
  • Luxury Portable Consumer Electronics
  • Luxury Timepieces
  • Luxury Writing Instruments and Stationery
  • Super Premium Beauty and Personal Care

If you're in the Luxury Goods industry in China, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.

The Luxury Goods in China report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volume and value sizes, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent research methodology, conducted in-country

This report answers:

  • What is the market size of Luxury Goods in China?
  • Which are the leading brands in Luxury Goods in China?
  • How are products distributed in Luxury Goods in China?
  • How important is tourism in evaluating demand for Luxury Goods in China?
  • How is the rise of e-commerce changing the retail and competitive landscape?
  • How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
  • Where is future growth expected to be most dynamic?

Luxury Goods in China

EXECUTIVE SUMMARY

Luxury goods in 2021: The big picture
2021 key trends
Competitive landscape
Retailing developments
What next for luxury goods?

MARKET DATA

Table 1 Sales of Luxury Goods by Category: Value 2016-2021 Table 2 Sales of Luxury Goods by Category: % Value Growth 2016-2021 Table 3 Inbound Receipts for Luxury Goods by Country of Origin: Value 2016-2021 Table 4 NBO Company Shares of Luxury Goods: % Value 2016-2020 Table 5 LBN Brand Shares of Luxury Goods: % Value 2017-2020 Table 6 Distribution of Luxury Goods by Format and Category: % Value 2021 Table 7 Forecast Sales of Luxury Goods by Category: Value 2021-2026 Table 8 Forecast Sales of Luxury Goods by Category: % Value Growth 2021-2026

DISCLAIMER

SOURCES

Summary 1 Research Sources

Experiential Luxury in China

KEY DATA FINDINGS

2021 DEVELOPMENTS

Experiential luxury sees rapid recovery and has great potential

CATEGORY DATA

Table 9 Sales of Experiential Luxury by Category: Value 2016-2021 Table 10 Sales of Experiential Luxury by Category: % Value Growth 2016-2021 Table 11 NBO Company Shares of Experiential Luxury: % Value 2016-2020 Table 12 LBN Brand Shares of Experiential Luxury: % Value 2017-2020 Table 13 Forecast Sales of Experiential Luxury by Category: Value 2021-2026 Table 14 Forecast Sales of Experiential Luxury by Category: % Value Growth 2021-2026

Luxury Hotels in China

KEY DATA FINDINGS

2021 DEVELOPMENTS

Domestic leisure travel boosts the recovery of luxury hotels
Experience-seeking consumers help the recovery of luxury hotels
Marriott International continues to lead luxury hotels

PROSPECTS AND OPPORTUNITIES

Luxury hotels expected to see positive momentum as restrictions ease
High-tier cities continue to be the main driving force for growth

CATEGORY DATA

Table 15 Sales in Luxury Hotels: Value 2016-2021 Table 16 Sales in Luxury Hotels: % Value Growth 2016-2021 Table 17 NBO Company Shares in Luxury Hotels: % Value 2016-2020 Table 18 LBN Brand Shares in Luxury Hotels: % Value 2017-2020 Table 19 Forecast Sales in Luxury Hotels: Value 2021-2026 Table 20 Forecast Sales in Luxury Hotels: % Value Growth 2021-2026

Fine Wines/Champagne and Spirits in China

KEY DATA FINDINGS

2021 DEVELOPMENTS

Spring festival is a key date for sales of fine wines/champagne and spirits
E-commerce is the key success factor
Premiumisation continues in baijiu

PROSPECTS AND OPPORTUNITIES

The release of domestic still light grape wine standards
International spirits players enhance localisation to connect with Chinese consumers
Fine champagne has great potential

CATEGORY DATA

Table 21 Sales of Fine Wines/Champagne and Spirits by Category: Value 2016-2021 Table 22 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2016-2021 Table 23 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2016-2020 Table 24 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2017-2020 Table 25 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2016-2021 Table 26 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2021-2026 Table 27 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2021-2026

Premium and Luxury Cars in China

KEY DATA FINDINGS

2021 DEVELOPMENTS

Premium and luxury cars outperforms pre-COVID-19 level in 2021
Tesla records the fastest growth

PROSPECTS AND OPPORTUNITIES

Daimler sustains its leading position, thanks to steady growth of Mercedes-Benz
Growing momentum for electric vehicles set to continue in the forecast period

CATEGORY DATA

Table 28 Sales of Premium and Luxury Cars: Value 2016-2021 Table 29 Sales of Premium and Luxury Cars: % Value Growth 2016-2021 Table 30 NBO Company Shares of Premium and Luxury Cars: % Value 2016-2020 Table 31 LBN Brand Shares of Premium and Luxury Cars: % Value 2017-2020 Table 32 Forecast Sales of Premium and Luxury Cars: Value 2021-2026 Table 33 Forecast Sales of Premium and Luxury Cars: % Value Growth 2021-2026

Personal Luxury in China

KEY DATA FINDINGS

2021 DEVELOPMENTS

Repatriated spending continues to benefit the local market
China has a relatively young consumer demographic
Omnichannel growth boosts personal luxury spending

PROSPECTS AND OPPORTUNITIES

Luxury brands extend brand heritage into the digital realm
Super premium beauty and personal care set to maintain dynamism

CATEGORY DATA

Table 34 Sales of Personal Luxury by Category: Value 2016-2021 Table 35 Sales of Personal Luxury by Category: % Value Growth 2016-2021 Table 36 NBO Company Shares of Personal Luxury: % Value 2016-2020 Table 37 LBN Brand Shares of Personal Luxury: % Value 2017-2020 Table 38 Distribution of Personal Luxury by Format: % Value 2016-2021 Table 39 Forecast Sales of Personal Luxury by Category: Value 2021-2026 Table 40 Forecast Sales of Personal Luxury by Category: % Value Growth 2021-2026

Designer Apparel and Footwear (Ready-To-Wear) in China

KEY DATA FINDINGS

2021 DEVELOPMENTS

Designer apparel and footwear weathers the pandemic well
Luxury brands tap into demand amongst the younger generation
Designer apparel and footwear leads online penetration in personal luxury

PROSPECTS AND OPPORTUNITIES

Designer apparel brands unlock games for online showcasing
Celebrity endorsement becomes a double-edged sword for luxury brands

CATEGORY DATA

Table 41 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2016-2021 Table 42 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2016-2021 Table 43 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2016-2020 Table 44 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2017-2020 Table 45 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2016-2021 Table 46 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2021-2026 Table 47 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2021-2026

Luxury Eyewear in China

KEY DATA FINDINGS

2021 DEVELOPMENTS

Rapid recovery sustained by rising demand and greater willingness to spend
E-commerce platforms are gaining traction
Younger consumers have greater consumption power

PROSPECTS AND OPPORTUNITIES

Rising demand for luxury sunglasses
Growing potential from the online marketplace

CATEGORY DATA

Table 48 Sales of Luxury Eyewear by Category: Value 2016-2021 Table 49 Sales of Luxury Eyewear by Category: % Value Growth 2016-2021 Table 50 NBO Company Shares of Luxury Eyewear: % Value 2016-2020 Table 51 LBN Brand Shares of Luxury Eyewear: % Value 2017-2020 Table 52 Distribution of Luxury Eyewear by Format: % Value 2016-2021 Table 53 Forecast Sales of Luxury Eyewear by Category: Value 2021-2026 Table 54 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2021-2026

Luxury Jewellery in China

KEY DATA FINDINGS

2021 DEVELOPMENTS

Luxury jewellery sustains its strong growth momentum
Unstoppable digital revolution in luxury jewellery
Luxury brands scramble to bid for sales in luxury jewellery

PROSPECTS AND OPPORTUNITIES

Luxury jewellery brands capitalise on glocalisation
Self-reward emerging as a new driver of luxury jewellery

CATEGORY DATA

Table 55 Sales of Luxury Jewellery by Category: Value 2016-2021 Table 56 Sales of Luxury Jewellery by Category: % Value Growth 2016-2021 Table 57 NBO Company Shares of Luxury Jewellery: % Value 2016-2020 Table 58 LBN Brand Shares of Luxury Jewellery: % Value 2017-2020 Table 59 Distribution of Luxury Jewellery by Format: % Value 2016-2021 Table 60 Forecast Sales of Luxury Jewellery by Category: Value 2021-2026 Table 61 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2021-2026

Luxury Leather Goods in China

KEY DATA FINDINGS

2021 DEVELOPMENTS

Luxury leather goods maintains resilience with repatriated spending
Luxury leather goods see rising prices in the Chinese market
Novelty offline campaigns are new inspiration for marketing post-COVID-19

PROSPECTS AND OPPORTUNITIES

Affordable luxury leather goods strive to further penetrate the Chinese market
Cartoon icons are a new cash cow for luxury brands in China

CATEGORY DATA

Table 62 Sales of Luxury Leather Goods: Value 2016-2021 Table 63 Sales of Luxury Leather Goods: % Value Growth 2016-2021 Table 64 NBO Company Shares of Luxury Leather Goods: % Value 2016-2020 Table 65 LBN Brand Shares of Luxury Leather Goods: % Value 2017-2020 Table 66 Distribution of Luxury Leather Goods by Format: % Value 2016-2021 Table 67 Forecast Sales of Luxury Leather Goods: Value 2021-2026 Table 68 Forecast Sales of Luxury Leather Goods: % Value Growth 2021-2026

Luxury Portable Consumer Electronics in China

KEY DATA FINDINGS

2021 DEVELOPMENTS

Demand for luxury portable consumer electronics recovers in 2021
Huawei Porsche Design leads
Traditional luxury mobile phone manufacturers strive to justify value through new products

PROSPECTS AND OPPORTUNITIES

E-commerce set to rise in luxury portable consumer electronics
Domestic retail expenditure expected to remain dominant
Luxury wearables has better prospects than luxury mobile phones

CATEGORY DATA

Table 69 Sales of Luxury Portable Consumer Electronics by Category: Value 2016-2021 Table 70 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2016-2021 Table 71 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2016-2020 Table 72 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2017-2020 Table 73 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2016-2021 Table 74 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2021-2026 Table 75 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2021-2026

Luxury Timepieces in China

KEY DATA FINDINGS

2021 DEVELOPMENTS

Luxury timepieces continues to expand in 2021
More luxury brands are tapping into timepieces
Luxury timepieces going digital in terms of marketing

PROSPECTS AND OPPORTUNITIES

Luxury timepieces brands drop exclusive limited editions to encourage purchases
The increasing blurring of gender preferences

CATEGORY DATA

Table 76 Sales of Luxury Timepieces by Category: Value 2016-2021 Table 77 Sales of Luxury Timepieces by Category: % Value Growth 2016-2021 Table 78 NBO Company Shares of Luxury Timepieces: % Value 2016-2020 Table 79 LBN Brand Shares of Luxury Timepieces: % Value 2017-2020 Table 80 Distribution of Luxury Timepieces by Format: % Value 2016-2021 Table 81 Forecast Sales of Luxury Timepieces by Category: Value 2021-2026 Table 82 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2021-2026

Luxury Writing Instruments and Stationery in China

KEY DATA FINDINGS

2021 DEVELOPMENTS

Increasing interest in craftsmanship helps drive growth
Montblanc maintains its leading position in luxury writing instruments and stationery

PROSPECTS AND OPPORTUNITIES

Pens continue to be vital for professionals
Players continue to expand through online platforms

CATEGORY DATA

Table 83 Sales of Luxury Writing Instruments and Stationery: Value 2016-2021 Table 84 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2016-2021 Table 85 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2016-2020 Table 86 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2017-2020 Table 87 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2016-2021 Table 88 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2021-2026 Table 89 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2021-2026

Super Premium Beauty and Personal Care in China

KEY DATA FINDINGS

2021 DEVELOPMENTS

Remarkable growth sustained by rising premiumisation
Premium fragrances gains momentum
Accelerated digital strategy empowers category growth

PROSPECTS AND OPPORTUNITIES

Holistic beauty awareness continues to shape the industry
Beauty specialist retailers are getting a makeover
Super premium skin care brands echo consumers’ increasingly sophisticated demands

CATEGORY DATA

Table 90 Sales of Super Premium Beauty and Personal Care by Category: Value 2016-2021 Table 91 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2016-2021 Table 92 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2016-2020 Table 93 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2017-2020 Table 94 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2016-2021 Table 95 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2021-2026 Table 96 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2021-2026
The following categories and subcategories are included:

Luxury Goods

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This report originates from Passport, our Luxury Goods research and analysis database.

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