Luxury goods in 2024: The big picture
Sales of luxury goods have seen strong growth in current value terms in 2024, with most categories reporting positive growth. While bookings at luxury hotels have still not fully recovered to pre-pandemic levels the category has still seen strong in 2024.
2024 key trends
Despite lingering economic uncertainty in 2024, there has been a slight improvement in terms of consumer confidence which has been reflected in increased spending on luxury goods. Inflation stabilised in 2024 having seen double-digit rates of inflation 2022 and 2023, which was reflected in more stable prices.
Competitive landscape
The competitive landscape within luxury goods in Poland in 2023 was rather dynamic, especially in premium and luxury cars, where there were notable changes in the rankings and shares held by different brands. Volkswagen AG outperformed both Daimler AG (Mercedes-Benz) and Bayerische Motoren Werke AG (BMW), and jumped into the leading position in the rankings, with sales of both Porsche and Audi reporting dynamic growth in 2023.
Retailing developments
Retail e-commerce remains the most dynamic distribution channel in personal luxury in 2024 with an increasing number of consumers embracing the value and convenience that can be achieved by shopping online. However, despite this, most consumers in Poland still prefer to buy designer apparel and footwear (ready-to-wear) and super premium beauty and personal care in-store, indicating the importance of trying before you buy.
What next for luxury goods?
The future looks bright for luxury goods in Poland with an improving economy and an increase in inbound tourism expected to help drive growth across most categories. Premium and luxury cars accounts for the largest share of value sales within luxury goods and the category is projected to see healthy growth in value and volume terms over the forecast period backed by the ongoing shift towards electric and hybrid vehicles.
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Overview:
Understand the latest market trends and future growth opportunities for the Luxury Goods industry in Poland 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.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Experiential Luxury
- Luxury Hotels
- Fine Wines/Champagne
- Premium and Luxury Cars
- Personal Luxury
- Designer Apparel and Footwear
- Luxury Eyewear
- Luxury Jewellery
- Luxury Leather Goods
- Luxury Portable Consumer Electronics
- Luxury Timepieces
- Luxury Writing Instruments and Stationery
- Super Premium Beauty and Personal Care
If you're in the Luxury Goods industry in Poland, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Luxury Goods in Poland 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 Luxury Goods in Poland?
- Which are the leading brands in Luxury Goods in Poland?
- How are products distributed in Luxury Goods in Poland?
- How important is tourism in evaluating demand for Luxury Goods in Poland?
- 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?
Luxury Goods in Poland
Luxury goods in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
DISCLAIMER
Experiential Luxury in Poland
KEY DATA FINDINGS
International tourism leads growth, but domestic tourism remain an important part
Leading players investing in ambitious expansion plans
Experiences becoming more important to tourists
Luxury hotels looks to have a bright future
Continuous investment expected in new hotel developments
Consumers expected to look for unique and authentic experiences from their stay
Fine Wines/Champagne and Spirits in Poland
KEY DATA FINDINGS
Fine champagne delivers the strongest growth in value terms but luxury whiskies remains the key focus of demand
Little change in the rankings in 2023 as consumers favour tried and tested brands
Responsible drinking trend fuels demand for luxury spirits and fine wines
Luxury whiskies likely to remain on top as consumers develop more refined tastes
NoLo trend expected to influence market demand
Luxury vodka showing promise
Premium and Luxury Cars in Poland
KEY DATA FINDINGS
Electric vehicles on the rise but from a small base
Audi and Porsche make gains thanks to use of innovative connected features
Online customisation and personalisation a growing feature of the category
Bright future for premium and luxury cars
Drivers demanding a premium experience with the latest technology
EVs set to thrive as consumers look for more sustainable ways to drive
Personal Luxury in Poland
KEY DATA FINDINGS
Designer apparel and footwear (ready-to-wear)
Luxury eyewear
Luxury jewellery
Luxury leather goods
Luxury wearables
Luxury timepieces
Luxury writing instruments and stationery
Super premium beauty and personal care
Bright outlook for personal luxury as Poland sees signs of an economic recovery
Sustainability concerns expected to have a growing influence on new product development
Digitalisation set to influence the future development of personal luxury
The following categories and subcategories are included:
Luxury Goods
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- Luxury Foodservice
- Luxury Hotels
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- Fine Champagne
- Other Fine Wine
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- Luxury Brandy and Cognac
- Luxury Whiskies
- Other Luxury Spirits
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- Premium and Luxury Cars
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- Men's Designer Apparel
- Women's Designer Apparel
- Designer Childrenswear
- Designer Clothing Accessories and Hosiery
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- Children's Designer Footwear
- Men's Designer Footwear
- Women's Designer Footwear
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- Luxury Spectacle Frames
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- Men's Luxury Sun Glasses
- Women's Luxury Sun Glasses
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- Luxury Costume Jewellery
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- Men's Luxury Fine Jewellery
- Women's Luxury Fine Jewellery
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- Men's Luxury Bags and Small Leather Goods
- Women's Luxury Bags and Small Leather Goods
- Luxury Travel Goods
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- Luxury Wearables Electronics
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- Men's Luxury Timepieces
- Women's Luxury Timepieces
- Luxury Writing Instruments and Stationery
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- Super Premium Colour Cosmetics
- Super Premium Fragrances
- Super Premium Skin Care
- Other Super Premium Beauty and Personal Care
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Luxury Goods
This is an aggregation of: Personal Luxury, Fine Wines/Champagne and Spirits, Luxury Cars and Experiential Luxury.
See all of our definitionsWhy buy this report?
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This report originates from Passport, our Luxury Goods research and analysis database.
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