Smart wearables are seeing soaring demand in the context of COVID-19 because consumers have become more preoccupied with measuring various health parameters and taking care of their general wellbeing. This has also happened amongst luxury consumers, boosting sales of luxury wearables.
COVID-19 has hit luxury portable consumer electronics in the same way as it has hit luxury goods in general – reduced levels of disposable income and a reduction in non-essential spending have restricted demand. As a result, brand operators are starting to rethink their expansion strategies and revise their target consumer groups.
The limited assortment reflects negatively on luxury phone sales with the category being almost non-existent in Romania over the review period and in 2021. There are very few brands available and those with presence are mainly luxury variants of Apple iPhones.
The anticipated sharp recovery of Romania’s economy will lead to rising disposable incomes and growing consumer confidence. Higher-income consumers benefitting from this are likely to spend on luxury products, including luxury portable consumer electronics.
Luxury variants of Apple iPhones are the most notable luxury mobile phones in Romania. These are sold by the Romanian company Vip Touch Design which upgrades high-end iPhone products with special metal plates or hand-engraves them to create that element of personalisation and exclusivity that is so important to luxury consumers.
Unlike many other luxury goods categories, luxury portable consumer electronics offers solid potential for a strong e-commerce presence. Consumers are increasingly seeking the latest and best reviewed products, rather than certain brands.
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Understand the latest market trends and future growth opportunities for the Luxury Portable Consumer Electronics industry in Romania 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 Portable Consumer Electronics industry in Romania, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Luxury portable consumer electronics include luxury mobile phones, luxury MP3 players and luxury wearables.See All of Our Definitions
This report originates from Passport, our Luxury Portable Consumer Electronics research and analysis database.
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