Luxury Writing Instruments and Stationery in Singapore

PROSPECTS

Demand continues to be affected by shift to digital, collectible and customised products may offer opportunities for growth

While luxury writing instruments and stationary saw continued growth in 2019, the category’s performance was weaker than in 2018, as interest in writing instruments declines in an increasingly digital world. However, such products are marketed as brands used by professionals, with the aim of increasing consumers’ curiosity.

Tactile nature of luxury writing instruments benefits bricks and mortar sales, omnichannel strategies increasingly adopted

Players in the category have increased investment in social media presence in order to reach more consumers, including the young professionals. Retail value sales of luxury writing instruments made via internet retailing remained relatively limited at the end of the review period, as consumers still prefer to visit bricks and mortar outlets to test these products before making a purchase.

Players implement marketing strategies targeting specific consumer segments

With the growing adoption of electronic devices, consumers are becoming less willing to splurge on luxury writing instruments and stationery. Competition has also further intensified as non-luxury brands are spending on marketing efforts to drive demand.

COMPETITIVE LANDSCAPE

Richemont launches boutiques offering in-store personalisation

Richemont Luxury (S) Pte Ltd remained the leading player in the luxury writing instruments category in 2018. In addition, it further expanded its presence in Singapore, with the launch of its sixth boutique.

Limited edition products see increased demand in shrinking environment

Despite the slightly deflated performance of luxury writing instruments and stationery in general, there nevertheless remains strong interest in limited edition and collectible products. For example, in 2017, Montblanc introduced a collectible range inspired by The Beatles under its ‘great characters edition’, while in April 2018 it introduced a new range based on the classic children’s story The Little Prince.

Players set to focus elsewhere as demand for luxury writing instruments wanes

Luxury brands such as Montblanc and Tiffany & Co are likely to divert their product development into other categories of luxury goods to counteract the weak performance of luxury writing instruments. For example, Montblanc launched its Summit brand of luxury wearables in 2017, with the Summit 2 being launched in October 2018.

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