Luxury Writing Instruments and Stationery in the United Kingdom

PROSPECTS

Demographic shifts in the wider luxury goods market contribute to slowdown

The demographic shifts in the wider market for luxury goods contributed to a slowdown in luxury writing instruments and stationery in 2018. As millennials and younger generations drive the majority of growth in personal luxury, the traditional category of writing instruments has become increasingly niche.

Digitisation negatively affects sales

Ongoing digitisation, the rise in the ownership and usage of technological devices and the significant shift towards paperless activities means traditional stationery and writing instruments are being used less and less by consumers, and therefore do not need to be replaced as frequently as in the past. The purchase of luxury writing instruments and stationery in the UK is increasingly becoming exclusively reserved for gifting and special occasions.

Traditional brands are forced to innovate

Brands now face the challenge of appealing to new generations of connected consumers. Innovation is now crucial in a luxury category driven by discerning digital natives, and leading writing instruments brands are responding to this; as evidenced by Montblanc’s Augmented Paper handwriting recognition range, which takes the traditional art of handwriting into the digital age and helps to solidify the brand’s leading position in the category.

COMPETITIVE LANDSCAPE

Stationery specialists drive sales

Luxury writing instruments and stationery is comprised of a combination of luxury fashion brands, fine jewellery brands and luxury writing instruments and stationery specialists. Specialists continue to lead, as fashion and jewellery brands focus less on this category and more on their core offering of key revenue drivers such as designer apparel and footwear, jewellery and leather goods, with writing instruments generating a minimal proportion of sales for these brands.

Diversification for specialists

Whilst traditional stationery brands such as Montblanc and Smythson of Bond Street are enjoying higher growth than their competitors, they are not immune to the overall slowdown in luxury writing instruments and stationery in the UK and have had to expand into other product categories to remain relevant. It is significant that leather goods and accessories now represent the majority of sales for these brands.

Heritage brands with strong histories and identities

In the UK, luxury writing instruments and stationery is dominated by European heritage brands with strong histories and identities. Much like the rest of personal luxury, when it comes to stationery, consumers are attracted to brands that are considered specialists in their field, with a super premium positioning and enduring legacies.

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