Luxury mobile phones remains negligible in Sweden, as they are considered discretionary items. Such products have also seen further downwards pressure during the time of the pandemic, as consumers started to cut their expenses on discretionary items, including luxury portable consumer electronics, due to income uncertainty.
There was no implementation of a local, regional or national COVID-19 lockdown in Sweden. Stores remained open with social distancing practices in place, such as limits on the number of customers in a store at any given time, plexiglass screens to protect staff at price payment points, in-store reminders/directions to keep distance from fellow shoppers, and the offer of hand sanitiser in-store.
Michael Kors (from Fossil Sweden AB) is by far the leading brand in luxury wearables. Michael Kors retails at price points comparable to non-luxury brands and is sold via the electronics and appliances specialist retailer Elgiganten.
Although sales are expected to slow down to sluggish levels over the forecast period, there are opportunities within the category. For example, as consumers’ disposable incomes are maintained and start to grow, they will be desirous of innovative new products which can offer functionality – such as wearables.
Consumers’ mobile phone preferences will remain focused on innovation and technology rather than having a focus on design and image. There are no measurable factors for luxury mobile phones in Sweden in 2021, with no indication this will change over the forecast period, as consumers will continue to demonstrate loyalty to the dominant iPhone and Samsung brands.
The lifting of COVID-1-related restrictions offers a growth opportunity for luxury wearables. With a return to normality and greater social interactions, this will support demand for functional wearables which also purport image, luxury and status.
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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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