Luxury goods continued to exhibit a divergent performance during 2022, with marginal growth in retail constant value sales: Experiential luxury remainder the top performer, as the easing of COVID-19 restrictions during the early part of the year unpinned a recovery in demand for luxury hotels. However, experiential luxury retail constant value sales remained well below their pre-pandemic peak.
Local consumers are starting to become more interested in local tourism, especially authentic experiences. As a result, luxury hotels are increasingly focusing on offering authentic Romanian experiences.
The competitive landscape in luxury goods is highly fragmented (with the notable exception of premium and luxury cars). L'Oréal Romania SRL is the overall leader in personal luxury due to its strong leadership position in super premium beauty and personal care, where it has more than twice the retail value sales of its closest rival – Spanish company Puig SL.
E-commerce continues to grow in popularity as a distribution channel for luxury goods, especially personal luxury. Younger consumers in particular are gradually becoming more comfortable shopping for these products online, appreciating the convenience and wide product offer of this channel.
There will be robust growth in retail constant value sales of luxury goods during the forecast period. This will particularly be the case during the early part of the forecast period, when the easing of COVID-19 restrictions will support a strong rebound in demand.
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Understand the latest market trends and future growth opportunities for the Luxury Goods industry in Romania with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
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This is an aggregation of: Personal Luxury, Fine Wines/Champagne and Spirits, Luxury Cars and Experiential Luxury.See All of Our Definitions
This report originates from Passport, our Luxury Goods research and analysis database.
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