Luxury Writing Instruments and Stationery in Singapore

PROSPECTS

Declining consumer base calls for diversification

Luxury writing instruments and stationery is expected to post modest value growth over the forecast period. The category continues to face the threat of a shrinking consumer base, with many Singaporeans seeing these products as redundant in this digital age.

Players diversify to retain sales

Moving forward, 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.

Internet retailing remains a small channel for luxury writing instruments and stationery

Retail value sales of luxury writing instruments through internet retailing remained relatively limited in 2018, with flat growth being recorded. Consumers still prefer to visit brick-and-mortar stores to test out these products before making a purchase.

COMPETITIVE LANDSCAPE

Montblanc leads in Singapore

Montblanc remained the dominant brand within luxury writing instruments and stationery in 2017. The brand further expanded its presence in Singapore, with the launch of its sixth boutique in 2018.

Limited edition and collectible products drive interest

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.

Competition from mass segment rises

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.

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