Luxury goods in 2024: The big picture
Retail current value sales of luxury goods in Romania will rise by 9% in 2024, set to reach sales of RON11.4 billion.
2024 key trends
Sustainability is a key trend across the luxury goods landscape in Romania, aligning with consumers' rising concerns surrounding climate change and actionable ways to increase sustainable living. Consequently, luxury hotel players have focused on sustainable initiatives, including waste management, water use, energy conservation, reducing plastics, and strategies such as providing QR codes in favour of printed materials.
Competitive landscape
Competition remains high on the luxury goods landscape, with brands frequently launching new products, limited-edition goods, collaborations, enhanced services and updated technology features to engage consumers.
Retailing developments
While store-based transactions continue to account for the bulk of sales, digital is transforming the luxury retailing landscape in Romania, and e-commerce is quickly gaining ground. During the outbreak of COVID-19, luxury brands were quick to adapt to the loss of in-store footfall, offering digital options that included augmented reality and AI services, allowing consumers to ask questions and ‘try’ products before they buy, simply by uploading photos via mobile, or on a PC.
What next for luxury goods?
The outlook is positive for luxury goods in Romania, with many consumers having an ongoing desire to purchase high-end goods, resulting in retail value growth for all areas of the luxury goods landscape. Retail current value sales of luxury goods in Romania are projected to see a CAGR of 8% (4% constant 2024 value CAGR) over the forecast period amounting to RON16.
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Overview:
Understand the latest market trends and future growth opportunities for the Luxury Goods industry in Romania 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 Romania, 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 Romania 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 Romania?
- Which are the leading brands in Luxury Goods in Romania?
- How are products distributed in Luxury Goods in Romania?
- How important is tourism in evaluating demand for Luxury Goods in Romania?
- 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 Romania
Luxury goods in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
DISCLAIMER
Experiential Luxury in Romania
KEY DATA FINDINGS
Rise in sales as inbound tourism increases, boosting spending on experiences
Luxury hotels invest in wellness experiences and premium surroundings
Marriott International Inc retains its lead while guest numbers rise
Luxury hotel launches drive growth as retail value sales rise
Unique experiences and sustainable features engage wealthy clientele
Luxury foodservice could bolster growth through innovative experiences
Fine Wines/Champagne and Spirits in Romania
KEY DATA FINDINGS
Growth remains positive following a significant uplift in sales during 2023
Luxury whiskies lead growth as household cocktail creation rises in Romania
Pernod Ricard Romania maintains its lead, offering internationally renowned whisky brands
Positive growth trajectory as the premiumisation trend expands
Fine wines drive growth as consumers choose sophisticated options for socialising
Local players focus on their premium offerings to gain ground on the landscape
Premium and Luxury Cars in Romania
KEY DATA FINDINGS
Double-digit growth driven by established brand names and technological advances
Sustainable premium models save costs and support the environment
Daimler ag retains its lead through the established Mercedes-Benz brand
Retail value sales rise, supported by new launches on the landscape
Personalisation, augmented reality and convenience drives sales through e-commerce
Sustainability and climate concerns boost ownership of electric cars
Personal Luxury in Romania
KEY DATA FINDINGS
Designer apparel and footwear players benefit from the move away from fast fashion
Luxury eyewear benefits from being on-trend, driving positive retail value growth
Sentimental pieces drive ongoing growth on the luxury jewellery landscape
Demand for sustainable options is rising in luxury leather goods
Luxury wearables offer elegant designs blended with advanced technology
Positive growth as consumers consider luxury timepieces to be investments
Sales of luxury writing instruments and stationery are supported by customisation
Fashion brands continue to launch on the super-premium beauty and personal care landscape
Luxury timepieces and wearables drive ongoing growth on the landscape
E-commerce sales rise as players invest in technology that support personalised experiences
Luxury players focus on sustainability to align with consumers' rising concerns
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?
- 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 Luxury Goods research and analysis database.
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