Luxury Goods in Spain

January 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

COVID-19 impact on luxury goods
COVID-19 country impact
Company response
Retailing shift
What next for luxury goods?

MARKET INDICATORS

Table 1 Number of High Net Worth Individuals (HNWI): 2015-2020

MARKET DATA

Table 2 Sales of Luxury Goods by Category: Value 2015-2020 Table 3 Sales of Luxury Goods by Category: % Value Growth 2015-2020 Table 4 Inbound Receipts for Luxury Goods by Country of Origin: Value 2015-2020 Table 5 NBO Company Shares of Luxury Goods: % Value 2015-2019 Table 6 LBN Brand Shares of Luxury Goods: % Value 2016-2019 Table 7 Distribution of Luxury Goods by Format and Category: % Value 2020 Table 8 Forecast Sales of Luxury Goods by Category: Value 2020-2025 Table 9 Forecast Sales of Luxury Goods by Category: % Value Growth 2020-2025

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

SOURCES

Summary 1 Research Sources

Experiential Luxury in Spain

KEY DATA FINDINGS

2020 IMPACT

Category hit by COVID-19 travel restrictions as Spanish hotels are forced to close
Financial uncertainty leads to a drop in domestic tourism
Luxury foodservice outlets open for delivery for the first time

RECOVERY AND OPPORTUNITIES

Domestic sales to suffer as Spaniards face hard times ahead
Tourists will be cautious in their travel habits as health concerns linger
Companies seed to seduce local consumers with special offers

CATEGORY DATA

Table 10 Sales of Experiential Luxury by Category: Value 2015-2020 Table 11 Sales of Experiential Luxury by Category: % Value Growth 2015-2020 Table 12 NBO Company Shares of Experiential Luxury: % Value 2015-2019 Table 13 LBN Brand Shares of Experiential Luxury: % Value 2016-2019 Table 14 Forecast Sales of Experiential Luxury by Category: Value 2020-2025 Table 15 Forecast Sales of Experiential Luxury by Category: % Value Growth 2020-2025

Luxury Hotels in Spain

KEY DATA FINDINGS

2020 IMPACT

Category hit by lockdown as businesses and borders close
Luxury hotels attempt to seek out domestic tourists
Suspension of business travel leads to further losses for luxury hotels

RECOVERY AND OPPORTUNITIES

The prospect of a vaccine is the light at the end of the tunnel for luxury hotels
Virtual events will constrain the category in the coming years
Economic crisis spells bad news for luxury hotels as consumers cut back on spending

CATEGORY DATA

Table 16 Sales in Luxury Hotels: Value 2015-2020 Table 17 Sales in Luxury Hotels: % Value Growth 2015-2020 Table 18 Sales in Luxury Hotels by Country of Origin: % Value 2015-2020 Table 19 NBO Company Shares in Luxury Hotels: % Value 2015-2019 Table 20 LBN Brand Shares in Luxury Hotels: % Value 2016-2019 Table 21 Forecast Sales in Luxury Hotels: Value 2020-2025 Table 22 Forecast Sales in Luxury Hotels: % Value Growth 2020-2025

Fine Wines/Champagne and Spirits in Spain

KEY DATA FINDINGS

2020 IMPACT

COVID-19 National lockdown leads to declining sales as the category is hit by horeca closures
Home consumption fails to absorb horeca losses
Drop in tourist sales bursts the bubble of fine wines/champagne and spirits

RECOVERY AND OPPORTUNITIES

Vaccine will mean a return to old habits
Local consumers will play harder to get in the face of economic uncertainty
Healthy living trends drive changing patterns of alcohol consumption in Spain

CATEGORY DATA

Table 23 Sales of Fine Wines/Champagne and Spirits by Category: Value 2015-2020 Table 24 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2015-2020 Table 25 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2015-2019 Table 26 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2016-2019 Table 27 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2015-2020 Table 28 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2020-2025 Table 29 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2020-2025

Premium and Luxury Cars in Spain

KEY DATA FINDINGS

2020 IMPACT

Premium and luxury cars not immune to effects of COVID-19 as category suffers drastic losses
Major players introduce discounts to attract new customers
Daimler retains leadership as Tesla sales boom

RECOVERY AND OPPORTUNITIES

Government stimulus to speed category recovery in the forecast period
The future is electric as consumers take a greater interest in sustainability
Public transport innovation postponed due to COVID-19

CATEGORY DATA

Table 30 Sales of Premium and Luxury Cars: Value 2015-2020 Table 31 Sales of Premium and Luxury Cars: % Value Growth 2015-2020 Table 32 NBO Company Shares of Premium and Luxury Cars: % Value 2015-2019 Table 33 LBN Brand Shares of Premium and Luxury Cars: % Value 2016-2019 Table 34 Forecast Sales of Premium and Luxury Cars: Value 2020-2025 Table 35 Forecast Sales of Premium and Luxury Cars: % Value Growth 2020-2025

Personal Luxury in Spain

KEY DATA FINDINGS

2020 IMPACT

E-commerce steps up in times of COVID-19 but fails to absorb the drastic losses causes by store closures
Companies step up to help the fight against COVID-19
Category suffers from the champagne effect as consumers seek indulgent treats

RECOVERY AND OPPORTUNITIES

Economic hardship proves to be a drag on personal luxury performance
Country holds its breath in anticipation of the return of tourism
Players target lower price points to attract new customers

CATEGORY DATA

Table 36 Sales of Personal Luxury by Category: Value 2015-2020 Table 37 Sales of Personal Luxury by Category: % Value Growth 2015-2020 Table 38 NBO Company Shares of Personal Luxury: % Value 2015-2019 Table 39 LBN Brand Shares of Personal Luxury: % Value 2016-2019 Table 40 Distribution of Personal Luxury by Format: % Value 2015-2020 Table 41 Forecast Sales of Personal Luxury by Category: Value 2020-2025 Table 42 Forecast Sales of Personal Luxury by Category: % Value Growth 2020-2025

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

KEY DATA FINDINGS

2020 IMPACT

Long months of outlet closures hurt category performance
Category suffers from lack of events as consumers have no reason to dress up
Lack of tourism spelled bad news for the category

RECOVERY AND OPPORTUNITIES

Economic hardship to hamper the recovery of designer apparel and footwear (ready-to-wear)
Spanish designer apparel and footwear (ready-to-wear) eagerly awaits the return of tourists
E-commerce will support sales but to limited effect as consumers favour a personal touch

CATEGORY DATA

Table 43 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2015-2020 Table 44 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2015-2020 Table 45 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2015-2019 Table 46 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2016-2019 Table 47 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2015-2020 Table 48 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2020-2025 Table 49 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2020-2025

Luxury Eyewear in Spain

KEY DATA FINDINGS

2020 IMPACT

Category hit by a halt to non-essential sales during the national lockdown
Health trends boost sales of sunglasses as COVID-19 increases emphasis on health and wellness
Economic hardship drives consumers away from luxury eyewear

RECOVERY AND OPPORTUNITIES

Thrifty Spaniards put off purchases in the face of financial uncertainty
Virtual life boosts sales in luxury eyewear as consumers feel the (eye)strain
Health becomes a priority in consumer buying decisions

CATEGORY DATA

Table 50 Sales of Luxury Eyewear by Category: Value 2015-2020 Table 51 Sales of Luxury Eyewear by Category: % Value Growth 2015-2020 Table 52 NBO Company Shares of Luxury Eyewear: % Value 2015-2019 Table 53 LBN Brand Shares of Luxury Eyewear: % Value 2016-2019 Table 54 Distribution of Luxury Eyewear by Format: % Value 2015-2020 Table 55 Forecast Sales of Luxury Eyewear by Category: Value 2020-2025 Table 56 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2020-2025

Luxury Jewellery in Spain

KEY DATA FINDINGS

2020 IMPACT

Lockdown leaves consumers with little to celebrate as luxury jewellery sales suffer
Luxury jewellery suffers from perception as health hazard
E-commerce provides hope for the category

RECOVERY AND OPPORTUNITIES

Spaniards have new priorities in the aftermath of COVID-19
Prices to increase as consumers view luxury jewellery as investment pieces
Spaniards shy away from extravagance in the face of hardship

CATEGORY DATA

Table 57 Sales of Luxury Jewellery by Category: Value 2015-2020 Table 58 Sales of Luxury Jewellery by Category: % Value Growth 2015-2020 Table 59 NBO Company Shares of Luxury Jewellery: % Value 2015-2019 Table 60 LBN Brand Shares of Luxury Jewellery: % Value 2016-2019 Table 61 Distribution of Luxury Jewellery by Format: % Value 2015-2020 Table 62 Forecast Sales of Luxury Jewellery by Category: Value 2020-2025 Table 63 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2020-2025

Luxury Leather Goods in Spain

KEY DATA FINDINGS

2020 IMPACT

Three months of national lockdown hit the category hard as retail outlets are forced to close their doors
Travel bans restrict consumer base as companies lose access to international consumers
Spaniards tighten their purse strings in the face of economic uncertainty

RECOVERY AND OPPORTUNITIES

Economic hardship continues to restrict the category
Luxury leather goods looks forward to the return of tourists
Luxury leather goods are no longer a status symbol

CATEGORY DATA

Table 64 Sales of Luxury Leather Goods: Value 2015-2020 Table 65 Sales of Luxury Leather Goods: % Value Growth 2015-2020 Table 66 NBO Company Shares of Luxury Leather Goods: % Value 2015-2019 Table 67 LBN Brand Shares of Luxury Leather Goods: % Value 2016-2019 Table 68 Distribution of Luxury Leather Goods by Format: % Value 2015-2020 Table 69 Forecast Sales of Luxury Leather Goods: Value 2020-2025 Table 70 Forecast Sales of Luxury Leather Goods: % Value Growth 2020-2025

Luxury Portable Consumer Electronics in Spain

KEY DATA FINDINGS

2020 IMPACT

Category hit by strict lockdown measures as Spain follows France and Italy’s example
Lockdown holds the category back from meeting growth expectations in 2020
Players offering smartwatches dominate the ranking

RECOVERY AND OPPORTUNITIES

Lockdown accelerates the decline of luxury mobile phones
The future is bright for luxury wearables
Opportunity for players to target the ageing Spanish population in the coming years

CATEGORY DATA

Table 71 Sales of Luxury Portable Consumer Electronics by Category: Value 2015-2020 Table 72 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2015-2020 Table 73 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2015-2019 Table 74 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2016-2019 Table 75 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2015-2020 Table 76 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2020-2025 Table 77 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2020-2025

Luxury Timepieces in Spain

KEY DATA FINDINGS

2020 IMPACT

Luxury timepieces suffers considerable losses as Spain closes its borders
Higher prices deter price sensitive consumers
Companies use technological innovation to expand their online presence in the face of store closures

RECOVERY AND OPPORTUNITIES

Category restricted by Spain’s gloomy economic outlook as tourism slowly recovers from the travel bans
Changing work habits lead to a drop in timepieces sales
Luxury timepieces viewed as investment pieces

CATEGORY DATA

Table 78 Sales of Luxury Timepieces by Category: Value 2015-2020 Table 79 Sales of Luxury Timepieces by Category: % Value Growth 2015-2020 Table 80 NBO Company Shares of Luxury Timepieces: % Value 2015-2019 Table 81 LBN Brand Shares of Luxury Timepieces: % Value 2016-2019 Table 82 Distribution of Luxury Timepieces by Format: % Value 2015-2020 Table 83 Forecast Sales of Luxury Timepieces by Category: Value 2020-2025 Table 84 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2020-2025

Luxury Writing Instruments and Stationery in Spain

KEY DATA FINDINGS

2020 IMPACT

COVID-19 lockdown and financial uncertainty hits sales hard
The work from home trend erodes sales
COVID-19 restricts opportunities for gift-giving as social gatherings are banned

RECOVERY AND OPPORTUNITIES

Weak socioeconomic forecast limits the potential of the category
Category depends on the return of tourists to Spain’s popular tourist destinations
Category faces competition from technological advances as consumers move away from old-school pen and paper

CATEGORY DATA

Table 85 Sales of Luxury Writing Instruments and Stationery: Value 2015-2020 Table 86 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2015-2020 Table 87 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2015-2019 Table 88 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2016-2019 Table 89 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2015-2020 Table 90 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2020-2025 Table 91 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2020-2025

Super Premium Beauty and Personal Care in Spain

KEY DATA FINDINGS

2020 IMPACT

Lockdown was a drag on sales in 2020 even though e-commerce picked up some sales
Players support the COVID-19 effort to maintain visibility during global health crisis
Sanitisation measures shape sales in the category

RECOVERY AND OPPORTUNITIES

Economic distress set to erode sales for the foreseeable
Economic crisis drives shift to cheaper products
Consumers seek the feel-good factor as they dust themselves off from the COVID-19 crisis

CATEGORY DATA

Table 92 Sales of Super Premium Beauty and Personal Care by Category: Value 2015-2020 Table 93 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2015-2020 Table 94 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2015-2019 Table 95 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2016-2019 Table 96 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2015-2020 Table 97 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2020-2025 Table 98 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2020-2025
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This report originates from Passport, our Luxury Goods research and analysis database.

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