PROSPECTS AND OPPORTUNITIES
Designer apparel and footwear (ready-to-wear) to remain most important category, but super premium beauty and personal care offers further growth potential
Designer apparel and footwear (ready-to-wear) will remain the most important value category within personal luxury over the forecast period, due to the growing interest among Mexicans in luxury fashion and accessories. Brands that already have a presence in the country will continue with their expansion plans, while the category is likely to attract new brands due to the growing global interest in the Mexican market.
Boost to personal luxury to be driven by both local and international tourism
Driven by the growth in tourism across different parts of the country, personal luxury is gradually decentralising from Mexico City to reach other regions of significant relevance. Not only are tourist numbers to the country’s beaches extremely relevant for various personal luxury items, including luxury sun glasses or luxury leather goods, but new tourist spots of importance are beginning to develop both in the Pacific area and also in the interior of the country.
General merchandise stores to remain the most important for personal luxury
The outlook for personal luxury in Mexico looks promising, with retail value sales (at constant 2024 prices) predicted to record a 4% CAGR over the forecast period to reach MXN140 billion in 2029. The most relevant distribution channel for personal luxury will continue to be general merchandise stores, particularly department stores such as El Palacio de Hierro.
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Overview:
Understand the latest market trends and future growth opportunities for the Personal Luxury industry in Mexico 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 Personal Luxury industry in Mexico, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Personal Luxury in Mexico 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 Personal Luxury in Mexico?
- Which are the leading brands in Personal Luxury in Mexico?
- How are products distributed in Personal Luxury in Mexico?
- How important is tourism in evaluating demand for Personal Luxury in Mexico?
- 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?
Personal Luxury in Mexico - Category analysis
KEY DATA FINDINGS
Designer apparel and footwear (ready-to-wear) drives sales of personal luxury
Luxury eyewear
Luxury jewellery
Luxury leather goods
Luxury wearables electronics
Luxury timepieces
Luxury writing instruments and stationery
Super premium beauty and personal care
Designer apparel and footwear (ready-to-wear) to remain most important category, but super premium beauty and personal care offers further growth potential
Boost to personal luxury to be driven by both local and international tourism
General merchandise stores to remain the most important for personal luxury
Luxury Goods in Mexico - 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:
Personal Luxury
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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
Personal Luxury
This is an aggregation of Designer Clothing and Footwear (Ready-to-Wear), Luxury Eyewear, Luxury Jewellery, Luxury Timepieces, Luxury Leather Goods, Luxury Writing Instruments and Stationery, Luxury Portable Consumer Electronics and Super Premium Beauty and Personal Care.
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 Personal Luxury research and analysis database.
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