Personal luxury is expected to see solid but slowing current value growth in the forecast period. Brands will continue to have more power over consumers’ purchases in the forecast period.
Retailers are turning to experiential marketing and promotion, such as pop-up stores, in-store events, and cafés inside outlets, to attract luxury consumers. For instance, Lotte Department Store opened a Valentino Beauty pop-up store in 2022.
Despite the positive forecast for personal luxury, a major threat to the leading brands lies in non-luxury brands. Brands are available which have a mid to high price, but are considered as luxury brands by MZ consumers, and these are gaining popularity.
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Understand the latest market trends and future growth opportunities for the Personal Luxury industry in South Korea 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 South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
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.See All of Our Definitions
This report originates from Passport, our Personal Luxury research and analysis database.
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