Overall, the personal luxury market is expected to see a recovery over the forecast period thanks largely to demand amongst young local affluent consumers and a greater number of international tourists and foreign visitors when the country fully reopens. The constraints of geographic distance are being reduced by online platforms and social media, which will continue to have a strong influence on fashion trends amongst younger consumers, such as Millennial and Gen-Z consumers.
Price discounts and aggressive marketing strategies are expected to remain crucial tactics to boost sales performance, especially amongst entry-level personal luxury brands, while the overall unit price is set to be pushed upwards due to higher production costs, inflation and new product developments. While number of items available and ease of access can affect the exclusivity of products and brands, the online approach is likely to be used to create accessibility and build up brand awareness.
The personal luxury market is likely to see ongoing product developments and the development of distinctive concepts relating to personalisation and sustainability. Limited collections and brand collaborations are expected to spice up the market environment, while some brands are likely to introduce personalisation services to make them even more distinctive.
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Understand the latest market trends and future growth opportunities for the Personal Luxury industry in Thailand 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 Thailand, 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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