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Learn moreAug 2020
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Coronavirus (COVID-19) has had a detrimental impact on personal accessories in Thailand. The closure of schools, workplaces and foodservice and entertainment establishments, bans on travel and tourism, the postponement of major social events like weddings and birthday parties and stay-at-home measures have reduced the need to use or buy items like bags and luggage, jewellery, watches and writing instruments.
All non-essential establishments in Thailand were closed from 21 March, with only takeaway and delivery services allowed from foodservice outlets. A cross-border travel ban was put in place, with the exception of diplomats, work permit holders, people working in the transportation of goods, as well as those with express permission of the Prime Minister to enter the country.
The competitive landscape remained highly fragmented in personal accessories in 2019, with the leading player overall, Richemont Luxury (Thailand), holding only a low single-digit retail value share. The leading player in bags and luggage, Kering, extended its retail value share lead as its Gucci brand benefited from the small and mini bag trend with a popular new collection.
The closure of non-essential retail channels, especially leisure and personal goods specialist retailers and department stores, limited access to and sales of personal accessories, particularly high-end or luxury brands, during the COVID-19 lockdown. This stimulated a move towards large modern grocery retailers and, especially, e-commerce, as consumers tried to limit their trips to retail stores and sought convenient and safer retailing options.
Retail volume and value sales at constant 2020 prices are projected to decline across personal accessories in 2021. High unemployment rates and lower disposable incomes during the COVID-19 pandemic are expected to exacerbate existing economic difficulties in Thailand, such as high household debt, drought, stagnant wage growth and a slowdown in tourism.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Personal Accessories industry in Thailand with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Personal Accessories industry in Thailand, our research will save you time and money while empowering you to make informed, profitable decisions.
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Why buy this report?
This industry report originates from Passport, our personal goods market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.