PROSPECTS AND OPPORTUNITIES
Players invest in digital features to enhance customer services online
Sales of personal luxury look set to increase at a current value CAGR of 5% (2024 constant value CAGR of 3%) over the forecast period to reach SGD7.8 billion.
Luxury jewellery and travel goods are key sales areas over the forecast period
Luxury jewellery will be the largest subcategory over the forecast period, with sales of SGD2.3 billion in 2028.
Sustainable practices increase, responding to consumers' rising demands
Aligned with growing interest in eco-friendly activities and rising climate concerns, players are expected to intensify conversations around sustainable luxury practices over the forecast period. Companies will be keen to showcase their sustainable practices, investing in natural ingredients, lower-impact materials, the circular economy and repair programmes.
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Overview:
Understand the latest market trends and future growth opportunities for the Personal 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 Personal 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 Personal 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 Personal Luxury in Singapore?
- Which are the leading brands in Personal Luxury in Singapore?
- How are products distributed in Personal Luxury in Singapore?
- How important is tourism in evaluating demand for Personal 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?
Personal Luxury in Singapore - Category analysis
KEY DATA FINDINGS
Designer apparel and footwear (ready-to-wear) benefit from the rising trend of quality over quantity
Pop-up shops and new collections bolster sales of luxury eyewear
Luxury jewellery exhibitions hosted in Singapore boost consumers' interest
Luxury leather good players focus on enhancing sustainability to attract consumers
Luxury wearables offer cutting-edge technology and customisable features
Consumers increasingly view luxury timepieces as investments
Luxury writing instruments offer customisation to boost retail value sales
Quality ingredients drive growth in super premium beauty and personal care
Players invest in digital features to enhance customer services online
Luxury jewellery and travel goods are key sales areas over the forecast period
Sustainable practices increase, responding to consumers' rising demands
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:
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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