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Learn moreFeb 2021
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After many years of double-digit current value growth, personal luxury has turned to decline in 2020, due to the various impacts of COVID-19. One of the main issues has been the temporary closure of store-based retailers, which are the main distributors of luxury products.
In order to address the steep falls in sales in 2020, most players turned to deep discounting during the year. With the government restricting the sale of discretionary products during the lockdown and brands sitting on large inventories, brands had to resort to massive price reductions to try and shift stock.
Luxury players traditionally focused on the provision of physical stores, due to the ability to touch and feel products, and for the whole luxury experience that they could offer. However, a significant impact of the temporary closure of store-based retailers due to COVID-19 has been a massive increase in share for e-commerce, with a doubling of its share in personal luxury in 2020, as some consumers turned online to purchase their favourite brands.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Personal Luxury industry in India 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 Luxury industry in India, our research will save you time and money while empowering you to make informed, profitable decisions.
The Personal Luxury in India market research report includes:
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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.