Luxury writing instruments and stationery, after a number of years of falling sales, is expected to return to posting positive growth rates in 2021, even if the continued absence of Mainland Chinese tourists is still hurting the category. Things have started looking up in 2021 due to gift-giving occasions having resumed as well as consumers’ growing demand for entry-level products.
Luxury writing instruments and stationery was already suffering from the increasing digitalisation of consumer lifestyles, and the shift towards digital devices in work and study practices, before the outbreak of COVID-19. The pandemic increased consumers’ digital engagement, with remote working and studying further undermining demand for writing instruments and stationery.
Leading luxury writing instruments and stationery player Louis Vuitton Hong Kong strengthened its position in the category over the review period by developing its online presence, which put it in a relatively strong position to benefit from the changes in consumer behaviour during the COVID-19 pandemic. Richemont Asia Pacific has made significant share gains in recent years with its Montblanc brand.
Luxury writing instruments and stationery is expected to record positive growth in 2021, and continue doing so throughout the forecast period, as tourists start coming back to Hong Kong, as the immediate threat from COVID-19 diminishes and social and economic activity returns to normal. However, over the forecast period, the category is not expected to reach the sales levels seen in 2018, prior to the social unrest of 2019/2020 and the COVID-19 pandemic, as it continues to suffer from the digitalisation of consumer lifestyles and working practices.
The luxury writing instruments and stationery category needs to adopt new strategies in order to adapt to changing consumer demand. Brands and retailers need to rethink the relevance of the category in terms of modern lifestyles and to redefine the character and value of its high-end positioning.
With functionality losing its value in the category, luxury writing instruments and stationery players are expected to look to stimulate demand among millennials by increasingly focusing on product design. This may involve practices such as collaborating with designers from other categories to create limited edition products that allow them to better compete with niche brands.
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Understand the latest market trends and future growth opportunities for the Luxury Writing Instruments and Stationery industry in Hong Kong, China with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This includes luxury writing instruments – pens and pencils – and luxury stationery. Excludes colouring, markers & highlighters and writing accessories. Pen inks and refills are also excluded from this category along with all industrial or specialist pens (such as pottery pens, etc.). Luxury stationery includes personal organisers, diaries, notebooks, address books, writing paper, envelopes and greetings cards.See All of Our Definitions
This report originates from Passport, our Luxury Writing Instruments and Stationery research and analysis database.
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