Romania had not become a target for strong luxury brands by the end of the review period. In volume and turnover terms, luxury goods in Romania is behind other European countries such as France, Germany or Italy, where the luxury goods market is more established.
Luxury goods in Romania recorded prominent current value growth in 2018, significantly benefiting from economic growth. An increase in the spending capacity of consumers and a rise in living standards are among the factors boosting growth.
Competition within luxury goods is fierce in Romania. This is primarily because the customer base is comparatively limited and, due to the high prices, repeat purchases are not regular.
Towards the end of the review period, luxury brands focused on expanding their physical store networks into new markets and territories. Luxury brands are deepening the connection between the in-store and online experience.
Luxury goods in Romania experienced a series of dynamic changes towards the end of the review period. Economic trends, digital transformation and evolved consumer habits are slowly creating a new competitive landscape where traditional strategies will not be enough to maintain healthy growth and profitability.
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Discover the latest market trends and uncover sources of future market growth for the Luxury Goods industry in Romania with research from Euromonitor's team of in-country analysts.
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