The luxury goods market in Thailand is set to see the continuation of its recovery in 2022. Indeed, the overall market is expected to exceed the level of value sales seen immediately prior to the outbreak of COVID-19 during the year, although several categories are likely to remain below pre-pandemic levels.
New product launches remain crucial for market development in general. Brands across categories are introducing new collections, either with a seasonal focus or involving limited collections or collaborations such as Omega and Swatch and the Hublot Classic Fusion collection in luxury timepieces, and Gucci and Balenciaga under ‘The Hacker Project to celebrate the 100th anniversary of the Gucci brand, the Loewe and Spirited Away collection, Coach, Michael B Jordan and Blue the Great under the ‘Blue the Great: The Art of Collaboration’ collection for luxury apparel, footwear and leather goods.
International brands continue to dominate the luxury goods market in Thailand in 2022. While brands continue to focus on core product lines, many are making an effort to extend their product lines to cover lifestyle products and home-use items – for example, the Louis Monogram Series mug and phone case and the Hermès Home and Outdoor collection phone case and power bank.
Store-based retailing continues to retain its importance in the luxury goods market in Thailand, with many consumers continuing to prefer to experience products first hand before making a purchase because of their aesthetic qualities and high prices. However, the COVID-19 crisis has dramatically reinforced a shift towards online sales.
The revival of the tourism industry is likely to have a positive impact across all categories of the luxury market in Thailand over the forecast period. Sustainability and eco-fashion will remain a key trend, encouraging developments along the lines of 100% recycled glass bottles for super premium skin care and fragrances, as used by Guerlain perfume, and refill packages for lipsticks, as used by Dior, Hermès, Guerlain and Hourglass.
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Understand the latest market trends and future growth opportunities for the Luxury Goods industry in Thailand 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:
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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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