Sales of luxury leather are set to be hit very hard by the pandemic. The most direct reason for this was the shutdown of non-essential retail outlets between March and May.
COVID-19 has also had less direct effects on sales of luxury leather goods in Romania. Travel restrictions imposed at the beginning of lockdown had an immediate negative impact on sales, above all sales of travel related products like luggage or passport holders.
A significant part of luxury leather goods are bought by business users, and items such as briefcases or other business bags remain high status items at senior managerial level across the economy. The closure of non-essential business has seen many of these consumers working remotely, in line with government recommendations that they should work from home where possible.
In constant value and volume terms, the truest indicator of category health, sales of luxury leather goods are not anticipated to return to pre-pandemic levels before the end of the review period. This is despite strong anticipated growth in the aftermath of the virus as the economy reopens.
There is still strong underlying demand for luxury leather goods in Romania, and despite the impact of the virus, consumer desires are not anticipated to shift greatly over the forecast period. Romanian women are highly fashion conscious, and increasingly sophisticated as a result of more travel and the impact of social media.
Luxury leather goods are set to a marked growth in sales via e-commerce in 2020, a trend that will slow as formal retail channels reopen. Despite the fact that unlike for example luxury apparel, these products do not need to be fitted, the experiential part of purchase remains important.
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Understand the latest market trends and future growth opportunities for the Luxury Leather Goods industry in Romania with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Luxury Leather Goods research and analysis database.
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