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Learn moreJan 2021
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Luxury goods experienced a steep decline in demand in 2020 as a result of the confinement and social distance restrictions due to COVID-19, store closures, economic uncertainly and low consumer confidence. Consumers in the Netherlands were encouraged to stay at home during the pandemic, resulting in a general fall in retail sales during the year.
Within the Netherlands, large gatherings were banned on 12 March 2020. From Sunday 15 March, all food and drink establishments were closed, followed by schools a day later, albeit with some remaining open to the children of healthcare and emergency service workers.
Due to the high price of luxury cars, these products continue to account for more than half of total value sales in luxury goods, with Tesla taking over the lead in 2020. Other major players include super premium beauty and personal care brands, upmarket hotel chains and purveyors of fine wines and spirits.
E-commerce performed well for luxury goods players during the lockdown period in 2020 as COVID-19 accelerated the trend towards digitalisation as more consumers felt safer shopping online. Older consumers purchased luxury goods online for the first time, expanding the consumer base for e-commerce.
Recovery is mainly expected from 2021 onwards, but there is still high uncertainly about the future development of the economy as the main government-based organisations are keeping a short-term planning scheme, unable to predict how demand will evolve. Sales of luxury goods witnessed a sharp decline of 90% in the first period of the COVID-19 pandemic.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Luxury Goods industry in Netherlands with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Luxury Goods industry in Netherlands, our research will save you time and money while empowering you to make informed, profitable decisions.
The Luxury Goods in Netherlands market research report includes:
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.