PROSPECTS AND OPPORTUNITIES
Second-hand luxury market could pose threat to luxury brand sales
Turkey's personal luxury market is expected to remain flat in constant value terms (2024 prices) over the forecast period. Growth will be supressed by the rising tendency of younger Turks to spend more of their disposable incomes on experiences rather than material possessions.
Brands will target younger generations
Leading luxury brands are expected to closely examine the spending habits of younger generations, such as Gen Z and Gen Alpha, who prioritise value-driven purchases and demand greater transparency in both communication and manufacturing processes. Additionally, brands will likely embrace more automated systems, enabling designers to explore new levels of creativity.
Physical retail will remain important
While e-commerce is gaining popularity, especially in apparel, footwear, and eye care, physical stores will remain important. This is largely because consumers value the personalised advice and expertise of in-store salespeople, particularly in luxury jewellery purchases.
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Overview:
Understand the latest market trends and future growth opportunities for the Personal Luxury industry in Turkey 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 Turkey, 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 Turkey 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 Turkey?
- Which are the leading brands in Personal Luxury in Turkey?
- How are products distributed in Personal Luxury in Turkey?
- How important is tourism in evaluating demand for Personal Luxury in Turkey?
- 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 Turkey - Category analysis
KEY DATA FINDINGS
“Quiet luxury” emerges as notable trend in designer apparel and footwear (ready-to-wear)
Shift in eyewear purchasing habits amid economic uncertainty
Local designers gain prominence in Turkey’s luxury jewellery market
Second-hand goods pose a challenge in luxury leather market
Luxury wearables have low life expectancy, due to technological advancements
Demand for luxury timepieces remains relatively resilient
Decline in demand for luxury writing instruments and stationery
Super premium beauty and personal care benefits from Sephora’s expansion
Second-hand luxury market could pose threat to luxury brand sales
Brands will target younger generations
Physical retail will remain important
Luxury Goods in Turkey - 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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