Luxury portable consumer electronics in France will continue to be negatively impacted by COVID-19 in 2021. The category has continued to suffer from the same issues as the first year of the pandemic, namely store closures and a lack of tourists.
Luxury mobile phones suffered a more significant decline than luxury wearables in 2020 and will continue to record decreasing sales in 2021. This is consistent with the downwards trend established in the review period.
Despite the impacts of COVID-19 in the previous year, watch specialists continued to enter the luxury wearables category or develop their ranges. Notable examples include Tissot which entered the market with Tissot T Touch Connect Solar, Tag Heuer with TAG Heuer Connected 2020 and Hublot adding to its range with Hublot Big Bang E.
Luxury portable consumer electronics in France is set to see positive growth rates from 2022 onwards with peak growth expected in 2023 as restrictions relax and people travel more often again with many wanting to ‘compensate’ for lost trips during the pandemic years. Nevertheless, economic uncertainties will remain a threat to luxury portable consumer electronics, as even luxury consumers might purchase more carefully or chose products that they consider to be more necessary than luxury goods.
It is expected that in the aftermath of the COVID-19 pandemic, more consumers will take an interest in e-commerce channels. As consumers became more familiar with online purchasing options and e-commerce channels during the national lockdown periods, they will be more likely to seek online options in the forecast period too.
In the short term, luxury portable consumer electronics is expected to suffer from the delayed return of international tourists to France. This is due to the continued threat that the COVID-19 pandemic poses to international consumers, and the fact that many countries, including France, will remain nervous about encouraging free-movement travel, especially whilst some countries retain a low vaccination rate.
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Understand the latest market trends and future growth opportunities for the Luxury Portable Consumer Electronics industry in France with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Luxury portable consumer electronics include luxury mobile phones, luxury MP3 players and luxury wearables.
See All of Our DefinitionsThis report originates from Passport, our Luxury Portable Consumer Electronics research and analysis database.
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