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Personal Luxury in India
July 2022
PROSPECTS AND OPPORTUNITIES
Strong opportunity for personal luxury to attract younger generations
Generation Z and Generation Alpha are groups of consumers born between 1995-2009 and 2010-2024, respectively. As per Euromonitor International’s Economies and Consumers Data, these age groups account for a combined 48% of the total population in India as of 2022.
Expansion of online presence will make personal luxury more accessible to consumers in smaller cities
The pandemic has triggered swift digitalisation efforts by premium retailers. These efforts were initially made to address prolonged home seclusion during 2020 and the first half of 2021 due to high cases of COVID-19, which prevented consumers from visiting physical stores for in-person shopping.
Sustainability to gather momentum over forecast period
Sustainability as a trend has been garnering attention for a number of years as the adverse effects of global warming and industrialisation are now highly visible to the entire global population. Hence, consumers are increasingly searching for products that are sustainable or use sustainable manufacturing processes such as recycled raw materials, ethical sourcing or local sourcing.
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Overview:
Understand the latest market trends and future growth opportunities for the Personal Luxury industry in India with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Personal Luxury industry in India, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Personal Luxury in India report includes:
Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volume and value sizes, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent research methodology, conducted in-country
This report answers:
What is the market size of Personal Luxury in India?
Which are the leading brands in Personal Luxury in India?
How are products distributed in Personal Luxury in India?
How important is tourism in evaluating demand for Personal Luxury in India?
How is the rise of e-commerce changing the retail and competitive landscape?
How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
Where is future growth expected to be most dynamic?
Personal Luxury in India - Category analysis
KEY DATA FINDINGS
2022 DEVELOPMENTS
Designer apparel and footwear (ready-to-wear) experiences solid comeback, but challenges loom
Luxury eyewear recovers but supply chain constraints remain
Festivals and weddings support year-on-year growth for luxury jewellery
Recovery of mobility supports both domestic tourism and luxury leather goods
Demand for luxury wearables electronics increases as Indians increasingly aware of maintaining healthy lifestyles
Luxury timepieces experiences gradual recovery as affluent consumers see little impact on incomes
Luxury writing instruments experiences improving sales in a digital age
Super premium beauty and personal care continues to recover
PROSPECTS AND OPPORTUNITIES
Strong opportunity for personal luxury to attract younger generations
Expansion of online presence will make personal luxury more accessible to consumers in smaller cities
Sustainability to gather momentum over forecast period
CATEGORY DATA
Table 1 Sales of Personal Luxury by Category: Value 2017-2022Table 2 Sales of Personal Luxury by Category: % Value Growth 2017-2022Table 3 NBO Company Shares of Personal Luxury: % Value 2017-2021Table 4 LBN Brand Shares of Personal Luxury: % Value 2018-2021Table 5 Distribution of Personal Luxury by Format: % Value 2017-2022Table 6 Forecast Sales of Personal Luxury by Category: Value 2022-2027Table 7 Forecast Sales of Personal Luxury by Category: % Value Growth 2022-2027
Luxury Goods in India - Industry Overview
EXECUTIVE SUMMARY
Luxury goods in 2022: The big picture
2022 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
MARKET DATA
Table 8 Sales of Luxury Goods by Category: Value 2017-2022Table 9 Sales of Luxury Goods by Category: % Value Growth 2017-2022Table 10 Inbound Receipts for Luxury Goods by Country of Origin: Value 2017-2022Table 11 NBO Company Shares of Luxury Goods: % Value 2017-2021Table 12 LBN Brand Shares of Luxury Goods: % Value 2018-2021Table 13 Distribution of Luxury Goods by Format and Category: % Value 2022Table 14 Forecast Sales of Luxury Goods by Category: Value 2022-2027Table 15 Forecast Sales of Luxury Goods by Category: % Value Growth 2022-2027
DISCLAIMER
SOURCES
Summary 1 Research Sources
The following categories and subcategories are included:
This is an aggregation of Designer Clothing and Footwear (Ready-to-Wear), Luxury Eyewear, Luxury Jewellery, Luxury Timepieces, Luxury Leather Goods, Luxury Writing Instruments and Stationery, Luxury Portable Consumer Electronics and Super Premium Beauty and Personal Care.