In 2020, luxury writing instruments will see slowed growth in response to the COVID-19 pandemic overall. This is to be expected as most of the luxury goods industry has been in some ways negatively impacted by the virus.
Aside from the pandemic, there has been other factors that have been preventing growth in 2020. For example, the rise of digital devices has resulted in writing by hand almost entirely disappearing from consumers everyday lives in both the private and commercial spheres, with digital services such as smart phones and tablets often replacing traditional pen and paper.
Cie Financiére Richemont remains the number one player in luxury writing instruments and stationery, maintaining a strong lead over second placed Hermès International thanks to the widespread popularity of its Montblanc brand. As well as having a high-status image, the brand also benefits from the fact that its fountain and ball pens remain popular among businesspersons as they are considered to be lucky charms when signing contracts.
After seeing slowed growth as a result of the pandemic in 2020, luxury writing instruments is anticipated to rebound in 2021. The main reason for this will likely be due to the recovery of consumer confidence, whereby they will be more willing to splash out on luxury items.
Despite the rise of e-commerce, sales of luxury writing instruments will continue to be largely dominated by Instore retailers. Due to the nature of the product, given that its luxury, most consumers prefer to use the product first before buying it.
The growing importance of devices such as smartphones and tablets to consumers’ daily lives presents opportunities for manufacturers of luxury writing instruments and stationery to leverage their established brand images and introduce products such as stylus pens designed for use with digital devices.
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Understand the latest market trends and future growth opportunities for the Luxury Writing Instruments and Stationery industry in Taiwan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Luxury Writing Instruments and Stationery research and analysis database.
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