Luxury Goods in Spain

December 2021
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Overview:

Understand the latest market trends and future growth opportunities for the Luxury Goods industry in Spain 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 Spain, 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 Spain 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 Spain?
  • Which are the leading brands in Luxury Goods in Spain?
  • How are products distributed in Luxury Goods in Spain?
  • How important is tourism in evaluating demand for Luxury Goods in Spain?
  • 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 Spain

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 Spain

KEY DATA FINDINGS

2021 DEVELOPMENTS

Rebound in inbound tourism drives a very modest recovery
Affluent locals take more domestic leisure trips
Business travel remains subdued

PROSPECTS AND OPPORTUNITIES

Surge in domestic demand is unlikely to last
Recovery in inbound international tourism should accelerate
Expansion plans show that luxury hotel chains remain bullish

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 Spain

KEY DATA FINDINGS

2021 DEVELOPMENTS

Lingering COVID-19 concerns hinder post-lockdown recovery
The most affluent are the first to return
Modest revival in business travel

PROSPECTS AND OPPORTUNITIES

Investment continues in spite of the pandemic
Sustainability will become a comparative advantage
Taking health and wellness to the next level

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 Spain

KEY DATA FINDINGS

2021 DEVELOPMENTS

Restaurants help to drive strong rebound in retail value sales
Inbound international tourism remains subdued
Health and wellness trend negatively affects demand

PROSPECTS AND OPPORTUNITIES

Revival in international tourism will drive robust demand growth
Weak economic recovery will weigh on domestic demand
Makers of wine/champagne and spirits will shift their focus from baby boomers to millennials

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 Spain

KEY DATA FINDINGS

2021 DEVELOPMENTS

Improving economic environment drives strong rebound in demand
German marques remain dominant, but electric carmaker Tesla is a growing threat
Rising prices for second-hand vehicles make premium and luxury cars an attractive investment for some

PROSPECTS AND OPPORTUNITIES

Sluggish post-pandemic economic recovery set to weigh on demand
Electric models will proliferate
With lower running costs, electric vehicles will widen the customer base for premium and electric cars

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 Spain

KEY DATA FINDINGS

2021 DEVELOPMENTS

Shortage of tourists continues to weigh heavily on demand
Celebrations coming back support sales of the category
Let’s get personal

PROSPECTS AND OPPORTUNITIES

Tourism revival will boost pace of recovery in demand for personal luxury
Luxury brands stress the emotional responses provoked by their products
A sluggish economic recovery will boost demand for second-hand personal luxury

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 Spain

KEY DATA FINDINGS

2021 DEVELOPMENTS

Lack of tourists limits recovery
Demand from local consumers revives as they socialise more and the economy stabilises
Local consumers increasingly prefer experiential consumption and luxury personal accessories over designer apparel and footwear

PROSPECTS AND OPPORTUNITIES

Rebound in tourism should help to accelerate recovery
Weak economic recovery will impede recovery in demand among local consumers
Heightened interest in sustainability will boost demand for used designer apparel and footwear

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 Spain

KEY DATA FINDINGS

2021 DEVELOPMENTS

Heightened consumer interest in eye health is outweighed by steep decline in international tourism
With fewer tourists, retailers offer discounts to attract more local consumers
Lingering economic uncertainty weighs on demand

PROSPECTS AND OPPORTUNITIES

Revival in inbound international tourism will drive rebound in demand for luxury eyewear
More screen time will lead to more frequent eye health issues among both adults and children
Making it personal

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 Spain

KEY DATA FINDINGS

2021 DEVELOPMENTS

With inbound international tourism subdued, demand for luxury jewellery remains fairly muted
Economic stress and subdued socialising weigh on demand for luxury jewellery among local consumers
E-commerce remains a significant distribution channel even after restrictions on physical stores are eased

PROSPECTS AND OPPORTUNITIES

Tourism revival and increased socialising will be key to rebound
Younger consumers will be more comfortable buying luxury jewellery online than their parents
Brands will increasingly seek to provoke an emotional reaction

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 Spain

KEY DATA FINDINGS

2021 DEVELOPMENTS

Easing of pandemic restrictions leads to no more than the most anaemic of recoveries
Tourist demand remains muted, but brands open pop-up stores in key destinations
E-commerce continues to grow, but some consumers (and brands) remain resistant

PROSPECTS AND OPPORTUNITIES

Recovery in visitor numbers from emerging markets will be crucial
Sluggish economic recovery will weigh on domestic demand
Second-hand sales will flourish, leading more local consumers to see luxury leather goods as an investment

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 Spain

KEY DATA FINDINGS

2021 DEVELOPMENTS

Health and wellness trend provides some support to demand for luxury wearables
Consumer interest in luxury mobile phones is very limited
Louis Vuitton’s ceramic Tambour Horizon Pure White & Diamonds sports 34 diamonds

PROSPECTS AND OPPORTUNITIES

Manufacturers will target older consumers with increasingly sophisticated health monitoring features
Demand for luxury mobile phones will continue to decline
Marketing will increasingly focus on social media

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 Spain

KEY DATA FINDINGS

2021 DEVELOPMENTS

Dearth of overseas tourists undermines demand
Lingering economic impact of pandemic weighs on local consumers
More expensive equals more exclusive

PROSPECTS AND OPPORTUNITIES

Inbound international tourism will play a crucial role in recovery
Brands may embrace pop culture in an effort to appeal to younger consumers
Decline in in-person business meetings will weigh on demand

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 Spain

KEY DATA FINDINGS

2021 DEVELOPMENTS

Working from home, reduced socialising and pandemic economic shock weigh heavily on demand
Tourist demand remains very weak
Brands target collectors with limited editions

PROSPECTS AND OPPORTUNITIES

With working from home and remote meetings expected to outlast the pandemic, recovery in demand will only be partial
Growing popularity of calligraphy will provide some support to demand
Among younger consumers, gadgets have usurped writing instruments

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 Spain

KEY DATA FINDINGS

2021 DEVELOPMENTS

Super premium colour cosmetics and fragrances hit particularly hard by pandemic restrictions
Demand for super premium skin care cushioned by home indulgence trend and mandatory masking
With local consumers increasingly comfortable shopping online, e-commerce holds onto most of the gains it made in 2020

PROSPECTS AND OPPORTUNITIES

Skin care will recover faster than colour cosmetics and fragrances
Home working, virtual meetings and mandatory facemasks will continue to weigh on demand for super premium colour cosmetics and fragrances
With some growing more sceptical of super premium offerings, brands will come under increased pressure to innovate

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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