For the second year running, luxury portable consumer electronics is expected to register a fall in value sales and this is from an already very small base. That being said, while the fall in value sales in 2020 was in the double-digits, there is only expected to be a marginal decline in current sales in 2021.
Within wearables, Apple Watch Hermès, Montblanc and Tag Heuer are the three main brands available in Ukraine, though only a few units are sold per year. In 2021, a mere 100 luxury wearables are expected to be sold.
Value sales in luxury portable consumer electronics are negligible in Ukraine. Such items are affordable to a very small consumer base in Ukraine, such as wealthy business people, bankers and politicians.
The outlook for luxury portable consumer electronics is positive, with very healthy value growth predicted. Part of the reason for the high growth is that with volume sales so small, any increase in sales has a significant impact.
Once international travel resumes again to the same levels as before the pandemic and Ukrainians can freely travel overseas, this could hamper value sales of luxury portable consumer electronics, as many Ukrainians will opt to buy such products overseas and through airport outlets. The selection is larger than if offered locally and retail price are often more competitive.
The main challenge to value growth of luxury portable consumer electronics in Ukraine is that the main consumer base, that is millennials and Gen Z, do not have high enough incomes in Ukraine to afford such items, with their disposable incomes being a lot lower than in countries like Germany and France. If such brands want to win value share in Ukraine, they will have to change their messaging in order to appeal to older consumers.
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Understand the latest market trends and future growth opportunities for the Luxury Portable Consumer Electronics industry in Ukraine 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 Definitions
This report originates from Passport, our Luxury Portable Consumer Electronics research and analysis database.
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