Luxury Goods in Taiwan

Luxury Goods in Taiwan

EXECUTIVE SUMMARY

Luxury brands adjust offering in reaction to macroeconomic challenges

Falling demand among Chinese tourists impacts sales

Leading brands look to update offer while maintaining traditional appeal

Consumers continue to opt for traditional shopping experience and service

Targeting of younger and aspirational consumers to boost demand

MARKET INDICATORS

Table 1 Number of High Net Worth Individuals (HNWI): 2014-2019

MARKET DATA

Table 2 Sales of Luxury Goods by Category: Value 2014-2019
Table 3 Sales of Luxury Goods by Category: % Value Growth 2014-2019
Table 4 Inbound Receipts for Luxury Goods by Country of Origin: Value 2014-2019
Table 5 NBO Company Shares of Luxury Goods: % Value 2014-2018
Table 6 LBN Brand Shares of Luxury Goods: % Value 2015-2018
Table 7 Distribution of Luxury Goods by Format and Category: % Value 2019
Table 8 Forecast Sales of Luxury Goods by Category: Value 2019-2024
Table 9 Forecast Sales of Luxury Goods by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources

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

HEADLINES

PROSPECTS

Non-luxury brands attracting consumers via cheaper prices and wider collections

Children’s boutiques continue to grow in popularity among consumers

Leading brands increasingly targeting younger millennial consumers

COMPETITIVE LANDSCAPE

LVMH benefits from rising brand awareness to take pole position

Leading brands focusing on attracting image conscious younger consumers

Growing interest in internet retailers among convenience seeking consumers

CATEGORY DATA

Table 10 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2014-2019
Table 11 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2014-2019
Table 12 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2014-2018
Table 13 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2015-2018
Table 14 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2014-2019
Table 15 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2019-2024
Table 16 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2019-2024

Experiential Luxury in Taiwan

HEADLINES

PROSPECTS

Growing focus on targeting experience-focused millennial consumers

Drop in Chinese tourists changing demand trends

Importance of online presence continues to grow

COMPETITIVE LANDSCAPE

Loyalty programmes offered to improve hotel experience

Leading brands offer discounting and seasonal deals to build awareness

Rising demand for luxury fuels focus on personalisation and customisation

CATEGORY DATA

Table 17 Sales of Experiential Luxury by Category: Value 2014-2019
Table 18 Sales of Experiential Luxury by Category: % Value Growth 2014-2019
Table 19 NBO Company Shares of Experiential Luxury: % Value 2014-2018
Table 20 LBN Brand Shares of Experiential Luxury: % Value 2015-2018
Table 21 Forecast Sales of Experiential Luxury by Category: Value 2019-2024
Table 22 Forecast Sales of Experiential Luxury by Category: % Value Growth 2019-2024

Fine Wines/Champagne and Spirits in Taiwan

HEADLINES

PROSPECTS

Rising health awareness and changing business landscape negatively impact sales

Expansion of informal foodservice outlets less hospitable to high-end brands

No end in sight to boom in demand for luxury whiskies

COMPETITIVE LANDSCAPE

Focus on localisation ensures Moët-Hennessy remains in pole position

Leading wine brands look to attract customers via special exhibitions

Growing focus on local consumers

CATEGORY DATA

Table 23 Sales of Fine Wines/Champagne and Spirits by Category: Value 2014-2019
Table 24 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2014-2019
Table 25 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2014-2018
Table 26 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2015-2018
Table 27 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2014-2019
Table 28 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2019-2024
Table 29 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2019-2024

Luxury Eyewear in Taiwan

HEADLINES

PROSPECTS

Luxury sun glasses continues to attract image and status conscious consumers

Growing competition from design-focused non luxury brands

Luxury spectacle frames threatened by expansion of value optical stores

COMPETITIVE LANDSCAPE

Kering benefits from renewed focus on Gucci brand

Safilo continues to expand operations via new partnership with LuxAsia

Department stores gain distribution share as luxury brands focus on exclusivity

CATEGORY DATA

Table 30 Sales of Luxury Eyewear by Category: Value 2014-2019
Table 31 Sales of Luxury Eyewear by Category: % Value Growth 2014-2019
Table 32 NBO Company Shares of Luxury Eyewear: % Value 2014-2018
Table 33 LBN Brand Shares of Luxury Eyewear: % Value 2015-2018
Table 34 Distribution of Luxury Eyewear by Format: % Value 2014-2019
Table 35 Forecast Sales of Luxury Eyewear by Category: Value 2019-2024
Table 36 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2019-2024

Luxury Hotels in Taiwan

HEADLINES

PROSPECTS

Growing interest in travel fuelling demand for luxury hotels

Leading players increasingly focusing on domestic travellers

Technological development offers both opportunities and threats

COMPETITIVE LANDSCAPE

Demand impacted by fall in number of visitors from China

Rising demand continues to attract new luxury hotel players

Leading brands embracing online bookings

CATEGORY DATA

Table 37 Sales in Luxury Hotels: Value 2014-2019
Table 38 Sales in Luxury Hotels: % Value Growth 2014-2019
Table 39 Sales in Luxury Hotels by Country of Origin: % Value 2014-2019
Table 40 NBO Company Shares in Luxury Hotels: % Value 2014-2018
Table 41 LBN Brand Shares in Luxury Hotels: % Value 2015-2018
Table 42 Forecast Sales in Luxury Hotels: Value 2019-2024
Table 43 Forecast Sales in Luxury Hotels: % Value Growth 2019-2024

Luxury Jewellery in Taiwan

HEADLINES

PROSPECTS

Luxury fine jewellery remains popular despite challenging economic environment

Leading brands increasingly targeting younger consumers with limited budgets

New Chinese visa restrictions expected to have limited impact

COMPETITIVE LANDSCAPE

Tiffany & Co focusing on personalisation in bid to attract consumers

Brands adapting to new aesthetic preferences of modern consumers

Scope for growth opportunities attracting new luxury players

CATEGORY DATA

Table 44 Sales of Luxury Jewellery by Category: Value 2014-2019
Table 45 Sales of Luxury Jewellery by Category: % Value Growth 2014-2019
Table 46 NBO Company Shares of Luxury Jewellery: % Value 2014-2018
Table 47 LBN Brand Shares of Luxury Jewellery: % Value 2015-2018
Table 48 Distribution of Luxury Jewellery by Format: % Value 2014-2019
Table 49 Forecast Sales of Luxury Jewellery by Category: Value 2019-2024
Table 50 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2019-2024

Luxury Leather Goods in Taiwan

HEADLINES

PROSPECTS

Social media helps to fuel interest in latest luxury leather goods trends

Millennials driving growth for small bags and pre-owned luxury fashion

Online channels continue to attract bargain and convenience seeking consumers

COMPETITIVE LANDSCAPE

Focus on global expansion continues to boost Gucci sales

Louis Vuitton falls into second position despite good performance of new ranges

Brighter outlook for Rimowa despite recent store closures

CATEGORY DATA

Table 51 Sales of Luxury Leather Goods: Value 2014-2019
Table 52 Sales of Luxury Leather Goods: % Value Growth 2014-2019
Table 53 NBO Company Shares of Luxury Leather Goods: % Value 2014-2018
Table 54 LBN Brand Shares of Luxury Leather Goods: % Value 2015-2018
Table 55 Distribution of Luxury Leather Goods by Format: % Value 2014-2019
Table 56 Forecast Sales of Luxury Leather Goods: Value 2019-2024
Table 57 Forecast Sales of Luxury Leather Goods: % Value Growth 2019-2024

Luxury Portable Consumer Electronics in Taiwan

HEADLINES

PROSPECTS

Sales now recovering following exit of previous leader Vertu

Strong competition from non-luxury mobile phone brands

Innovation of non-luxury brands poses threat within luxury wearables

COMPETITIVE LANDSCAPE

New customisable ranges ensure Tag Heuer remains in pole position

Luxury mobile phone brands focus on innovation in bid to attract consumers

Continued intense competition from non-luxury players

CATEGORY DATA

Table 58 Sales of Luxury Portable Consumer Electronics by Category: Value 2014-2019
Table 59 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2014-2019
Table 60 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2014-2018
Table 61 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2015-2018
Table 62 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2014-2019
Table 63 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2019-2024
Table 64 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2019-2024

Luxury Timepieces in Taiwan

HEADLINES

PROSPECTS

Leading brands targeting younger consumers with more affordable ranges

Growing focus on status rather than functionality

Online collector communities help fuel interest and brand awareness

COMPETITIVE LANDSCAPE

Introduction of luxury smartwatches in response to changing demand trends

Growing focus on targeting tech-savvy younger consumers

Rolex remains in pole position despite growing competition from smaller players

CATEGORY DATA

Table 65 Sales of Luxury Timepieces by Category: Value 2014-2019
Table 66 Sales of Luxury Timepieces by Category: % Value Growth 2014-2019
Table 67 NBO Company Shares of Luxury Timepieces: % Value 2014-2018
Table 68 LBN Brand Shares of Luxury Timepieces: % Value 2015-2018
Table 69 Distribution of Luxury Timepieces by Format: % Value 2014-2019
Table 70 Forecast Sales of Luxury Timepieces by Category: Value 2019-2024
Table 71 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2019-2024

Luxury Writing Instruments and Stationery in Taiwan

HEADLINES

PROSPECTS

Use of writing instruments and stationery limited by growth of digital devices

Focus on status rather than functionality set to boost unit prices

Leading brands continue to target businesspersons

COMPETITIVE LANDSCAPE

Montblanc looks to boost sales by expanding into new luxury areas

Louis Vuitton continues to gain sales share thanks to excellent brand awareness

Luxury digital devices offer potential scope for growth

CATEGORY DATA

Table 72 Sales of Luxury Writing Instruments and Stationery: Value 2014-2019
Table 73 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2014-2019
Table 74 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2014-2018
Table 75 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2015-2018
Table 76 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2014-2019
Table 77 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2019-2024
Table 78 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2019-2024

Personal Luxury in Taiwan

HEADLINES

PROSPECTS

Digital development offers both threats and opportunities for personal luxury

Growing demand for affordable luxury goods boosts luxury leather sales

Falling visitor numbers from China represent threat to growth

COMPETITIVE LANDSCAPE

Booming demand for luxury leather goods boosts sales of LVMH’s wide range

Gucci benefits from affordable luxury trend and targeting of younger consumers

Growing competition from more convenient online distributors

CATEGORY DATA

Table 79 Sales of Personal Luxury by Category: Value 2014-2019
Table 80 Sales of Personal Luxury by Category: % Value Growth 2014-2019
Table 81 NBO Company Shares of Personal Luxury: % Value 2014-2018
Table 82 LBN Brand Shares of Personal Luxury: % Value 2015-2018
Table 83 Distribution of Personal Luxury by Format: % Value 2014-2019
Table 84 Forecast Sales of Personal Luxury by Category: Value 2019-2024
Table 85 Forecast Sales of Personal Luxury by Category: % Value Growth 2019-2024

Super Premium Beauty and Personal Care in Taiwan

HEADLINES

PROSPECTS

Rising demand for quality fuels interest in super premium brands

Mass-market brands providing intense competition

Mixed and online retailers continue to gain distribution sales share

COMPETITIVE LANDSCAPE

Christian Dior benefits from strong positioning within dynamic colour cosmetics

Chanel continues to benefit from strong reputation for excellence

Rising consumer image awareness boosting demand for higher quality

CATEGORY DATA

Table 86 Sales of Super Premium Beauty and Personal Care by Category: Value 2014-2019
Table 87 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2014-2019
Table 88 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2014-2018
Table 89 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2015-2018
Table 90 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2014-2019
Table 91 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2019-2024
Table 92 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2019-2024

Premium and Luxury Cars in Taiwan

HEADLINES

PROSPECTS

Rising demand for SUVs offsets challenging economic environment

Growing focus on aspirational millennials and ultra-wealthy consumers

Rising environmental awareness boosting interest in electric vehicles

COMPETITIVE LANDSCAPE

Lexus closes gap thanks to affordable prices and reputation for safety

Rising environmental concerns fuel interest in electric vehicles

Rising demand continues to attract new luxury car players to Taiwan

CATEGORY DATA

Table 93 Sales of Premium and Luxury Cars: Value 2014-2019
Table 94 Sales of Premium and Luxury Cars: % Value Growth 2014-2019
Table 95 NBO Company Shares of Premium and Luxury Cars: % Value 2014-2018
Table 96 LBN Brand Shares of Premium and Luxury Cars: % Value 2015-2018
Table 97 Forecast Sales of Premium and Luxury Cars: Value 2019-2024
Table 98 Forecast Sales of Premium and Luxury Cars: % Value Growth 2019-2024

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