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 increasingly drive the majority of growth in personal luxury, the traditional category of writing instruments has become more niche.

Digitisation negatively affects sales but there could be a resurgence of handwriting among millennials

Ongoing digitisation through the use of technological devices and the significant shift towards paperless activities means that the use of traditional stationery and writing instruments is decreasing, which means that these items do not need to be replaced as frequently as in the past. Today, luxury writing instruments and stationery in the UK are purchased mostly for gifting and special occasions, rather than for ubiquitous everyday use.

Traditional brands are forced to innovate

To combat this potential threat of writing instruments becoming obsolete, pen manufacturers are endeavouring to create innovative designs to create more brand allure and garner market share in a market where it seems that there is an unlimited price range in pens of different specifications, in a plethora of colours and designs. As consumers seek out higher quality and unique products, they are turning to niche brands such as Goulet Pens that are better able to cater to their tastes, their lifestyles and their budget.

COMPETITIVE LANDSCAPE

Stationery specialists dominate the market

Luxury writing instruments and stationery is comprised of a combination of luxury writing instruments and stationery specialists, fine jewellery brands and luxury fashion brands. In 2018 Montblanc remained the overwhelming leader in the luxury writing instrument category, followed by Smythson of Bond Street, though jewellery brands such as Cartier and fashion brands such as Louis Vuitton still have important market share.

Heritage brands dominate through legacy and storytelling

In the UK, much like the rest of personal luxury category, luxury writing instruments and stationery is dominated by European heritage luxury stationery brands. Because handwriting is a particularly practical and technical activity it follows that for stationery, consumers prefer to buy from brands that are considered to be experts in their field for a number of years as is the case with the five brands that are dominating the UK market in 2018, namely, Montblanc, Smythson of Bond Street, Cartier, Louis Vuitton and ST Dupont.

Montblanc innovates to appeal to digitally savvy shoppers

Leading writing instrument brand Montblanc has responded to the changing demands of connected consumers with its creation of the Augmented Paper handwriting recognition range, a tool which marries the digital and physical benefits of notetaking. Furthermore, in keeping with the current trend of brand collaborations and exclusive collections to create brand distinctiveness, Montblanc has partnered with BMW to create a range of pens which is hoped to lure customers of all ages with an interest in cars and luxury.

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