Prior to the pandemic, super premium beauty and personal care was strongly supported by inbound tourists coming to Japan. Therefore, sales suffered a strong contraction due to the closure of the country’s borders in 2020 as the government endeavoured to stop the virus from spreading. Moreover, in terms of retailing, department store closures...
Personal luxury value sales plummeted in 2020, with designer apparel and footwear (ready-to-wear) and luxury jewellery, leather goods and timepieces suffering worst. Most categories suffered from tourist expenditure being substantially reduced as international travel was restricted in 2020. Personal Luxury in Canada report offers...
Luxury leather goods, in common with other areas of personal luxury, saw sales plummet in 2020 as a result of both the marked decline in inbound tourism, especially from Mainland China, and local consumers’ reluctance to visit physical stores. The sharp fall in the number of inbound tourists led many luxury brands to close stores located in...
Within the experiential luxury segment, luxury foodservice did not see sales hit as hard by the COVID-19 as luxury hotels in 2020. This was primarily because the category is less reliant on expenditure from inbound tourists, whose number fell dramatically during the year. Luxury Foodservice in Hong Kong, China report offers a comprehensive...
Luxury writing instruments and stationary is one of the most affected product areas in personal luxury in Sweden in 2020. Many traditional luxury writing instruments and stationary brands heavily rely on store-based sales and have limited digital presence. Even though stores were not mandated to close in Sweden, home seclusion and restrictions...
Consumer spending on all types of car in France dropped significantly in 2020, especially in the first eight months of the year. The Comité des Construceurs Français d’Automobiles (CCFA), for example, reported a sharp decline in the demand for cars from January to August 2020 inclusive. Premium and Luxury Cars in France report offers...
Designer apparel and footwear (Ready-to-Wear) was negatively impacted by store closures during the state of emergency in April and May in 2020. Consumers chose to stay at home in order to avoid catching and transmitting the virus. This category was also heavily impacted by the long-term border closures which led to the decimation of inbound...
Luxury eyewear was severely impacted by store closures under the state of emergency in April and May 2020 and longer-term border closures. Sunglasses is an under-developed category in Japan compared with Western markets, with fewer people wearing such products on a daily basis. While sunglasses have the functional benefit of protecting eyes...
Sales of luxury timepieces experienced a significant decline in 2020. The category was particularly badly affected by store closures under the state of emergency in April and May and longer-term border closures. Under normal circumstances, this category achieves a significant proportion of sales from inbound tourists. Therefore the closure...
As a result of the COVID-19 pandemic, many luxury hotels have been forced to close as they have been unable to survive the drastic decline in tourism. However, the closure of some hotels is not entirely contributable to the pandemic. Towards the end of the review period, the luxury hotel industry was beginning to suffer because of the declining...