Luxury Writing Instruments and Stationery in Spain

2021 DEVELOPMENTS

Working from home, reduced socialising and pandemic economic shock weigh heavily on demand

Retail current value sales of luxury writing instruments and stationery plunged by almost a third during 2020 and recovered only marginally in 2021. Luxury writing instruments are a popular gift in Spain, but COVID-19 has led to a reduction in the frequency of social events, and those events that do take place tend to be much smaller than before the onset of the pandemic.

Tourist demand remains very weak

Inbound international tourists are a significant source of demand for luxury writing instruments and stationery in Spain, with visitors from Asia, Latin America and Russia particularly prominent in this regard. However, this source of demand all-but collapsed during 2020 due to pandemic restrictions, and it remained quite subdued in 2021.

Brands target collectors with limited editions

In general, only consumers who are accustomed to using luxury writing instruments and stationery have continued to purchase them since the onset of the pandemic. With very new consumers being attracted to this category, brands are betting on limited edition product launches targeted at collectors.

PROSPECTS AND OPPORTUNITIES

With working from home and remote meetings expected to outlast the pandemic, recovery in demand will only be partial

While the rate of growth in retail current value sales of luxury writing instruments and stationery will accelerate during 2022, in constant terms, retail value sales will remain below the pre-pandemic level even at the end of the forecast period. A recovery in inbound international tourism and an improved domestic economic environment will be the main drivers of this growth.

Growing popularity of calligraphy will provide some support to demand

Some support to demand for luxury writing instruments and stationery will be provided by the fact that calligraphy is growing in popularity as a hobby among local consumers. Some specialist retailers, such as Estilográficas Sacristán, now offer calligraphy courses.

Among younger consumers, gadgets have usurped writing instruments

On the other hand, the ever-increasing use of smartphones, tablets and computers means that many local consumers, particularly younger ones, increasingly view luxury writing instruments and stationery as anachronistic. Luxury writing instruments were once perceived as a status symbol, but this is no longer the case – at least among younger consumers.