Personal luxury is set to see steady growth in retail volume terms over the forecast period, with only luxury writing instruments and stationery likely to struggle. As consumers start to lead more active lives outside the home they will likely be more willing to spend on designer apparel and footwear (ready-to-wear), super premium beauty and personal care and luxury eyewear, while increased travel should also benefit sales in areas such as luxury leather goods.
When it comes to personal luxury the issue of sustainability looks set to exert a greater influence on consumption habits and competitive strategies over the forecast period. With the COVID-19 pandemic having made people more conscious of the wider impact of their purchasing decisions, interest in products made using ethically sourced materials and more eco-friendly production methods is expected to increase.
The growing tendency of younger Turks to spend more of their disposable incomes on experiences rather than material possessions could pose a challenge for personal luxury over the forecast period. More companies are likely to develop product ranges that have an affordable luxury positioning and offer greater scope for customisation in order to broaden the appeal of their brands among these demographics, while they are also likely to invest in digital sales and marketing strategies.
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Understand the latest market trends and future growth opportunities for the Personal Luxury industry in Turkey 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 Turkey, 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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