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Learn moreFeb 2021
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Malaysia declared a Movement Control Order (MCO) between 18 March and 4 May 2020 which resulted in a total lockdown of the country. During this time, consumers were only allowed to travel to shop for essentials such as groceries.
Malaysian borders were closed to foreigners on 17 March 2020. The Malaysia Movement Control Order (MCO) started on 18 March and included measures such as limited operating hours for grocery retailers of 08.
International luxury houses continue to dominate luxury goods sales in Malaysia, with leading players including LVMH Moët Hennessy Louis Vuitton, Kering, Richemont and Burberry Group in personal luxury, Mercedes-Benz and BMW in luxury cars, and Shangri-La International Hotel Management and Marriott International in experiential luxury. However, luxury goods in Malaysia is a highly-fragmented industry, with a large number of multinational players aggressively competing against each other.
Since store-based retailers faced closures for a couple months in 2020 followed by limits in terms of customer capacity, many luxury goods players turned to e-commerce platforms to capture consumers. Within online channels, players added new features to entice consumers.
While overall, luxury goods is set to return to moderate but positive growth in 2021, recovery will vary based on products. A slower recovery is expected for high priced luxury goods such as luxury fine jewellery, and luxury timepieces.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Luxury Goods industry in Malaysia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Luxury Goods industry in Malaysia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Luxury Goods in Malaysia market research report includes:
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.