Abstract: - Boxed in with wealth erosion and discretionary income reduction among the rich and the middle class, the watches & clocks market is expected to decline by -7.8% in the year 2020 before recovering to reach a revised market size of US$73.3 billion by the year 2027. A few weeks into the pandemic, billionaires...
Despite COVID-19, the luxury jewellery category continued to demonstrate positive growth in 2020, albeit much lower than that seen in 2019. This overall performance was underpinned by women’s luxury fine jewellery. The desire to own small luxury items was maintained despite COVID-19, with Gucci and Hermes witnessing strong increases in demand...
Although luxury portable consumer electronics saw retail volume and current value declines in 2019, these were minor compared with the massive falls in sales experienced in 2020. In 2019, more than half of sales of luxury portable consumer electronics were attributed to spending by international tourists. However, a measure taken by the government...
After seeing slow retail volume growth and a stronger current value increase in 2019, in 2020 luxury eyewear turned to strong declines by both measures. Eyewear stores, including vision correction optical stores with qualified optometrists, were closed during the COVID-19 lockdown that was put in place by the South African government from...
Project Details: - StrategyR - A Trademark of Global Industry Analysts, Inc. - Project Edition: 18 - Influencer Pool: 1841 - MarketGlass™ Platform - Our influencer driven interactive research platform draws from unique perspectives of participating executives from featured companies....
Demand for designer apparel and footwear (ready-to-wear) in 2020 was negatively affected by the pandemic and related lockdown measures enforced by the Malaysian government. Since an important consumer base for designer apparel and footwear (ready-to-wear) is international tourists, the drop in international tourist arrivals due to border closures...
Mercedes-Benz announced delays to car deliveries for new owners until after Malaysia’s Movement Control Order (MCO) concluded in May 2020. At minimum, many brands lost one month’s worth of sales under the MCO. However, many analyses point to pent-up demand leading to a smoothening of April’s drastic decline once premium and luxury car sales...
When compared with other luxury goods, luxury jewellery had not been performing well even before COVID-19 struck. Luxury jewellery is becoming less fashionable and less expensive jewellery such as from retail brand Pandora has been gaining value share over the review period. In addition, there are several local jewellers that are not positioned...
Sales of luxury goods dropped sharply over the course of 2020 as the impact of the COVID-19 pandemic on the industry was largely very negative. Among the major negative influences on sales across most categories was the absence of foreign tourists in Thailand. Luxury Goods in Thailand report offers a comprehensive guide to the size...
Although luxury jewellery saw retail volume declines for most of the review period, they were insignificant compared with the fall in sales seen in 2020. Meanwhile, current value sales fell from growth in 2019 to a double-digit decline in 2020. The main reason for this poor performance was the closure of luxury jewellery stores during the...