There have been mixed performances across the various luxury goods categories in 2022, although most have continued the recovery from the effects of the COVID-19 pandemic that started in the second half of 2021 as restrictions were lifted. Growth is expected to continue for the remainder of 2022 with sales continuing to move towards pre-pandemic levels.
Growing interest and demand for vintage/preowned luxury goods is having an impact on demand in various categories, including luxury jewellery, leather goods, timepieces, designer apparel and footwear (ready-to-wear) and to a certain extent fine wine/champagne and spirits. Swedes appreciate heritage value and vintage looks.
Affordable luxury brands such as Filippa K, Ralph Lauren, and Hugo Boss continued to hold a significant share in luxury goods in Sweden. However, some of these players have been struggling to maintain their value shares due to frequent discounting and the continued strong growth of e-commerce, although this has made some of these brands more affordable and more widely available to a larger base of consumers in Sweden.
The distribution of luxury goods varies greatly depending on category. Non-grocery specialists such as car dealers, watch specialists, jewellery specialists, naturally lead sales with a personalised service and shopping experience remaining essential when it comes to luxury goods.
The future of luxury goods and experiential luxury in Sweden is expected to remain physically-based, with in-store retail sales continuing to account for the lion’s share of total retail sales throughout the forecast period. At the same time, the shopping habits of both international and Swedish consumers will likely increasingly be informed by the digital landscape.
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Understand the latest market trends and future growth opportunities for the Luxury Goods industry in Sweden 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:
If you're in the Luxury Goods industry in Sweden, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
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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