PROSPECTS AND OPPORTUNITIES
Events and business clientele support the ongoing growth of luxury hotels
Retail sales within experiential luxury will continue rising over the forecast period, growing at a current CAGR of 3% (2024 constant value CAGR of 1%) to reach SGD2.3 billion.
New openings support growth for the luxury hotels landscape as Accor expands
Growth for luxury hotels will benefit from innovations and new openings in Singapore. For example, Accor will continue to expand in Singapore, with three hotel brands set to open by 2027 through its long-standing partners, Fragrance Group Limited and Global Premium Hotels Limited, both owned by Koh Wee Meng.
Luxury food service has opportunity to expand as brands invest in new experiences
Luxury food service has yet to be established in Singapore, with sales remaining negligible across the review period. Consequently, luxury hotels remain the key players in experiential luxury.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Overview:
Understand the latest market trends and future growth opportunities for the Experiential Luxury industry in Singapore 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 Experiential Luxury industry in Singapore, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Experiential Luxury in Singapore report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Experiential Luxury in Singapore?
- Which are the leading brands in Experiential Luxury in Singapore?
- How are products distributed in Experiential Luxury in Singapore?
- How important is tourism in evaluating demand for Experiential Luxury in Singapore?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
- Where is future growth expected to be most dynamic?
Experiential Luxury in Singapore - Category analysis
KEY DATA FINDINGS
A movement towards experiences and services benefits luxury hotels
Luxury hotels offer unique, immersive experiences to engage consumers
Sustainable features increase, aligning with consumer demands
Events and business clientele support the ongoing growth of luxury hotels
New openings support growth for the luxury hotels landscape as Accor expands
Luxury food service has opportunity to expand as brands invest in new experiences
Luxury Goods in Singapore - Industry Overview
Luxury goods in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
DISCLAIMER
The following categories and subcategories are included:
Experiential Luxury
- Luxury Foodservice
- Luxury Hotels
Experiential Luxury
This is an aggregation of Luxury Hotels and Luxury Foodservice.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Experiential Luxury research and analysis database.
NEW REPORT GUARANTEE
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!