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Personal Luxury in Singapore
July 2022
PROSPECTS AND OPPORTUNITIES
Return of domestic demand and the opening of borders to aid recovery of personal luxury
Over the forecast period, luxury timepieces is expected to return to growth, with overall demand set to fully recover to pre-pandemic levels by 2026/2027. As physical stores are now fully operational, it is likely that avid collectors will return to purchasing luxury timepieces, particularly when leading brands launch new collections that they postponed during the pandemic.
Luxury players must consider potential competition from sustainability-based model
Players are intensifying already ongoing conversations around sustainable luxury practices. At the same time, younger consumer groups such as millennials and Generation Z have shown active support for the circular economy, by purchasing second-hand luxury items or selling pre-owned luxury goods online through popular online platforms such as Reebonz, where the likes of Hermès Birkin bags, Chanel and Louis Vuitton have all found a market.
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Overview:
Understand the latest market trends and future growth opportunities for the Personal Luxury industry in Singapore 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 Singapore, 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 Singapore 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 Singapore?
Which are the leading brands in Personal Luxury in Singapore?
How are products distributed in Personal Luxury in Singapore?
How important is tourism in evaluating demand for Personal Luxury in Singapore?
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 Singapore - Category analysis
KEY DATA FINDINGS
2022 DEVELOPMENTS
Designer apparel and footwear (ready-to-wear)
Luxury eyewear
Luxury jewellery
Luxury leather goods
Luxury wearables
Luxury timepieces
Luxury writing instruments and stationery
Super premium beauty and personal care
PROSPECTS AND OPPORTUNITIES
Return of domestic demand and the opening of borders to aid recovery of personal luxury
Luxury players must consider potential competition from sustainability-based model
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 Singapore - 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.