Luxury Writing Instruments and Stationery in Taiwan

PROSPECTS

Use of writing instruments and stationery limited by growth of digital devices

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 devices such as smartphones and tablets often replacing traditional pen and paper. As a consequence, luxury writing instruments and stationery products are not so much competing with standard alternatives through an emphasis on their symbolic and decorative qualities, as relying on those qualities as their primary raison d’être.

Focus on status rather than functionality set to boost unit prices

Following sluggish unit price growth in recent years, the fact that consumers increasingly only purchase luxury writing instruments and stationery as status symbols should help to boost unit price growth over the forecast period. Nonetheless, the increasingly niche character of products designed for writing by hand is set to lead to a deceleration in value growth within the category over the coming years.

Leading brands continue to target businesspersons

Businesspersons constitute a key consumer group for luxury writing instruments and stationery. The status associated with such products is a key attraction for such consumers, who tend to be called upon to write in front of other people more than other people during high-level meetings and by management.

COMPETITIVE LANDSCAPE

Montblanc looks to boost sales by expanding into new luxury areas

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.

Louis Vuitton continues to gain sales share thanks to excellent brand awareness

Louis Vuitton was the fastest growing player within luxury writing instruments and stationery in Taiwan in 2018, with the company posting a very strong double digit increase in current value sales. This excellent performance can be attributed to the strong loyalty of the company’s consumers and its growing image as a leading fashion brand throughout Taiwan.

Luxury digital devices offer potential scope for growth

The centrality 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. Nevertheless, the fact that technology in these areas constantly changes, along with strong competition from non-luxury players, means that many consumers will remain less willing to spend large sums of money on such luxury brands.

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