In 2020, sales of luxury leather goods were strongly negatively impacted by lockdowns and social distancing restrictions, which led to extended periods of store closure and home confinement for consumers as a result of the COVID-19 pandemic. Furthermore, the disruption of travel restricted international tourism, causing steep declines in expenditure on travel goods, as well as spending by tourists in the country.
Before the pandemic, most purchases of luxury leather goods took place in-store, because of their high price points, the ability to examine products in detail, and the exceptional service that luxury consumers normally receive in stores. However, as lockdowns led to store closures, consumers of luxury leather goods had to switch to online channels while they spent much of 2020 confined to their homes.
Consumers were forced to spend more time at home in 2020 and 2021 as their lives were disrupted by the lockdowns and social distancing restrictions in the UK. This extra time at home prompted many consumers to rethink and re-evaluate their life priorities, including their consumption habits, with many people deciding that they preferred to subscribe to the ideology of “buy less, but better”.
The COVID-19 pandemic caused lifestyle disruptions, which led many consumers to reconsider their consumption habits and their responsibility to making the world a better place, both environmentally and socially. This increased many consumers’ interest in the pre-owned luxury segment in order to apply the “reduce, reuse and recycle” approach to their luxury purchases.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Luxury Leather Goods industry in United Kingdom 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.
If you're in the Luxury Leather Goods industry in United Kingdom, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Luxury Leather Goods
This is the aggregation of luxury bags and small leather goods and luxury travel goods.See All of Our Definitions
This report originates from Passport, our Luxury Leather Goods research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!