Luxury Writing Instruments and Stationery in Spain

PROSPECTS

Older consumers continue to be the main consumer group

Luxury writing instruments and stationery saw a second year of current value decline in 2019. In line with the review period, older consumers are the main consumer group within luxury writing instruments and stationery, and this is expected to continue over the forecast period.

Luxury products are less often used by businesspersons or given as gifts

Traditionally in Spain, the acquisition of luxury writing instruments was linked to businessmen and women, or they were popular as gifts, linked to milestone moments in people’s lives, such as first communion, completion of a degree or for a wedding. However, amongst highly-positioned professionals, it is increasingly fashionable to use low-cost brands as a way of showing they are humble and are in line with the rest of their co-workers.

Players will need to diversify to attract new consumers

Due to the decline in luxury writing instruments and stationery, players will need to diversify their offer if they want to survive. They will need to concentrate on faster moving segments, such as those related to arts and crafts, as these are gaining popularity amongst both young and older consumers.

COMPETITIVE LANDSCAPE

Richemont Iberia maintains its lead to due to the strong heritage of Montblanc

Luxury writing instruments and stationery continued to be led by Richemont Iberia in value terms in Spain in 2018. The company focuses its strategy on marketing and building its brand image, especially under the leading brand Montblanc, although it also has the Cartier brand which accounts for a smaller share.

“Others” maintains a strong share due to a large number of diverse imported brands

The importance of small players in the category, included under “others”, remains high, accounting for more than a quarter of value sales in 2018. This is due to the fact that there are a number of small and diverse brands, most of which are imported and operate with no local subsidiary in the country.

A decline in the sales area for luxury writing instruments and stationery

One of the key distribution channels for luxury writing instruments and stationery in Spain has been mixed retailers, especially El Corte Inglés, which offers luxury writing corners for the key brands in the category, especially Montblanc. However, over the last couple of years the company progressively reduced the square footage dedicated to luxury writing instruments and stationery, as the company did not find it profitable.

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