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While the government of Sweden did not implement a strict lockdown, relying instead on the good judgement of its citizens while recommending social distancing, avoiding public events and self-isolation, the Public Institute of Health recommended that people should not travel outside of the country or even inside the country, unless absolutely necessary, while border controls were introduced by the Swedish government to prevent people from countries outside of the EU from entering the country fro...
Euromonitor International's Luxury Goods in Sweden report offers a comprehensive guide to the size and shape of the Luxury Goods market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market and their effects on Luxury Goods retailing along with the development of consumers' shopping patterns. Forecasts to 2025 illustrate how the market is set to change
Product coverage: Experiential Luxury, Fine Wines/Champagne and Spirits, Personal Luxury, Premium and Luxury Cars.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
Get a detailed picture of the Luxury Goods market; Pinpoint growth sectors and identify factors driving change; Understand the competitive environment, the market's major players and leading brands; Use five-year forecasts to assess how the market is predicted to develop.TABLE OF CONTENTS
List OF CONTENTS AND TABLES
EXECUTIVE SUMMARY
COVID-19 impact on luxury goods
COVID-19 country impact
Company response
Retailing shift
What next for luxury goods?
MARKET INDICATORS
Table 1 Number of High Net Worth Individuals (HNWI): 2015-2020MARKET DATA
Table 2 Sales of Luxury Goods by Category: Value 2015-2020 Table 3 Sales of Luxury Goods by Category: % Value Growth 2015-2020 Table 4 Inbound Receipts for Luxury Goods by Country of Origin: Value 2015-2020 Table 5 NBO Company Shares of Luxury Goods: % Value 2015-2019 Table 6 LBN Brand Shares of Luxury Goods: % Value 2016-2019 Table 7 Distribution of Luxury Goods by Format and Category: % Value 2020 Table 8 Forecast Sales of Luxury Goods by Category: Value 2020-2025 Table 9 Forecast Sales of Luxury Goods by Category: % Value Growth 2020-2025DISCLAIMER
GLOBAL MACROECONOMIC ENVIRONMENT
GLOBAL INDUSTRY ENVIRONMENT
SOURCES
Summary 1 Research SourcesKEY DATA FINDINGS
2020 IMPACT
Experiential luxury is severely affected by COVID-19 due to travel restrictions
Swedes favour experiences over goods
Radisson and Sheraton the only players present in experiential luxury
RECOVERY AND OPPORTUNITIES
Larger luxury hotel chains struggle to adopt to new circumstances, while independent, boutique hotels are quicker to introduce new concepts
Experiential luxury is anticipated to recover faster than luxury goods as Swedes favour experiences over physical goods
High-quality regional players are set to represent strong competition for luxury hotels
CATEGORY DATA
Table 10 Sales of Experiential Luxury by Category: Value 2015-2020 Table 11 Sales of Experiential Luxury by Category: % Value Growth 2015-2020 Table 12 NBO Company Shares of Experiential Luxury: % Value 2015-2019 Table 13 LBN Brand Shares of Experiential Luxury: % Value 2016-2019 Table 14 Forecast Sales of Experiential Luxury by Category: Value 2020-2025 Table 15 Forecast Sales of Experiential Luxury by Category: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Luxury hotels is severely affected by COVID-19 due to travel restrictions
With local mobility still prevalent, hotels in Sweden have been promoting the idea of a staycation
Luxury hotels are generally independent in Sweden
RECOVERY AND OPPORTUNITIES
As business and leisure travel is resumed, a recovery is anticipated in luxury hotels
New concepts introduced during COVID-19 will continue drawing guests in the forecast period
European and American tourists are the heaviest users of luxury hotels
CATEGORY DATA
Table 16 Sales in Luxury Hotels: Value 2015-2020 Table 17 Sales in Luxury Hotels: % Value Growth 2015-2020 Table 18 Sales in Luxury Hotels by Country of Origin: % Value 2015-2020 Table 19 NBO Company Shares in Luxury Hotels: % Value 2015-2019 Table 20 LBN Brand Shares in Luxury Hotels: % Value 2016-2019 Table 21 Forecast Sales in Luxury Hotels: Value 2020-2025 Table 22 Forecast Sales in Luxury Hotels: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
COVID-19 negatively affects fine wines/champagne and spirits as consumers avoid dining at restaurants
Sweden's is a major importer of champagne
Fine champagne makers continue to lead
RECOVERY AND OPPORTUNITIES
While 2021 will be reminiscent of 2020, recovery in fine wines/champagne and spirits is expected for 2022
Growing interest in high-quality alcohol is anticipated to drive sales
E-commerce is set to shape the fine wines/champagne and spirits landscape
CATEGORY DATA
Table 23 Sales of Fine Wines/Champagne and Spirits by Category: Value 2015-2020 Table 24 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2015-2020 Table 25 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2015-2019 Table 26 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2016-2019 Table 27 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2015-2020 Table 28 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2020-2025 Table 29 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Premium and luxury cars recovers quickly after an initial setback
Demand for electric cars continues to gain ground in Sweden
Lower-end luxury cars to be most affected by economic fluctuations
RECOVERY AND OPPORTUNITIES
Demand for environmentally friendly luxury cars is set to remain strong
Volvo's Polestar 2 might pose a threat to Tesla's popularity
Part of demand is anticipated to shift to second-hand cars
CATEGORY DATA
Table 30 Sales of Premium and Luxury Cars: Value 2015-2020 Table 31 Sales of Premium and Luxury Cars: % Value Growth 2015-2020 Table 32 NBO Company Shares of Premium and Luxury Cars: % Value 2015-2019 Table 33 LBN Brand Shares of Premium and Luxury Cars: % Value 2016-2019 Table 34 Forecast Sales of Premium and Luxury Cars: Value 2020-2025 Table 35 Forecast Sales of Premium and Luxury Cars: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
COVID-19 affects luxury jewellery, timepieces and writing instruments more severely than luxury fashion and super premium beauty and personal care
E-commerce grows in importance in personal luxury during the pandemic
Leading brands in personal care are affordable luxury designer apparel and footwear lines
RECOVERY AND OPPORTUNITIES
Designer apparel and footwear, luxury eyewear and super premium beauty and personal care are anticipated to recover more rapidly
Online retailing is set to grow in importance for affordable luxury brands
Shift towards experiential luxury may prevent more dynamic growth
CATEGORY DATA
Table 36 Sales of Personal Luxury by Category: Value 2015-2020 Table 37 Sales of Personal Luxury by Category: % Value Growth 2015-2020 Table 38 NBO Company Shares of Personal Luxury: % Value 2015-2019 Table 39 LBN Brand Shares of Personal Luxury: % Value 2016-2019 Table 40 Distribution of Personal Luxury by Format: % Value 2015-2020 Table 41 Forecast Sales of Personal Luxury by Category: Value 2020-2025 Table 42 Forecast Sales of Personal Luxury by Category: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Global lockdowns and economic uncertainty negatively affected designer apparel and footwear sales in 2020
Designer apparel and footwear had been facing difficulties prior to COVID-19
Affordable brands continue to lead the way in designer apparel and footwear
RECOVERY AND OPPORTUNITIES
The athleisure trend is an area of opportunity for designer apparel and footwear brands
While recovery will take time, e-commerce is set to shape the landscape in designer apparel and footwear
Shift towards experiential luxury may prevent more dynamic growth
CATEGORY DATA
Table 43 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2015-2020 Table 44 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2015-2020 Table 45 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2015-2019 Table 46 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2016-2019 Table 47 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2015-2020 Table 48 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2020-2025 Table 49 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
COVID-19 affects luxury sun glasses more than luxury spectacle frames
Eyewear is increasingly seen as a fashion accessory
Four main distributors of luxury eyewear brands
RECOVERY AND OPPORTUNITIES
As Swedes place more emphasis on quality than brand name, local manufacturers are expected to gain in value share
Laser surgery represents a threat to eyewear
E-commerce is set to play a more important role in luxury eyewear sales
CATEGORY DATA
Table 50 Sales of Luxury Eyewear by Category: Value 2015-2020 Table 51 Sales of Luxury Eyewear by Category: % Value Growth 2015-2020 Table 52 NBO Company Shares of Luxury Eyewear: % Value 2015-2019 Table 53 LBN Brand Shares of Luxury Eyewear: % Value 2016-2019 Table 54 Distribution of Luxury Eyewear by Format: % Value 2015-2020 Table 55 Forecast Sales of Luxury Eyewear by Category: Value 2020-2025 Table 56 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
COVID-19 negatively affects luxury jewellery as many traditional brands rely on store-based sales
Pre-owned jewellery enjoys strong demand
Georg Jensen leads luxury jewellery thanks to its wide retail network
RECOVERY AND OPPORTUNITIES
Traditional jewellery specialists will continue to account for the majority of sales
Rise in online sales is anticipated to exert price pressure on luxury jewellery
Maria Nilsdotter is a rising star in luxury jewellery in Sweden
CATEGORY DATA
Table 57 Sales of Luxury Jewellery by Category: Value 2015-2020 Table 58 Sales of Luxury Jewellery by Category: % Value Growth 2015-2020 Table 59 NBO Company Shares of Luxury Jewellery: % Value 2015-2019 Table 60 LBN Brand Shares of Luxury Jewellery: % Value 2016-2019 Table 61 Distribution of Luxury Jewellery by Format: % Value 2015-2020 Table 62 Forecast Sales of Luxury Jewellery by Category: Value 2020-2025 Table 63 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
COVID-19 negatively affects luxury leather goods
E-commerce sales increase in value share as internet becomes more than just a communication channel
Louis Vuitton remains the leading player through its flagship Stockholm store
RECOVERY AND OPPORTUNITIES
In a context of economic recession, recovery is anticipated to be slow
Vintage/pre-owned products are increasingly popular in luxury leather goods
Luxury handbags are seen as an investment
CATEGORY DATA
Table 64 Sales of Luxury Leather Goods: Value 2015-2020 Table 65 Sales of Luxury Leather Goods: % Value Growth 2015-2020 Table 66 NBO Company Shares of Luxury Leather Goods: % Value 2015-2019 Table 67 LBN Brand Shares of Luxury Leather Goods: % Value 2016-2019 Table 68 Distribution of Luxury Leather Goods by Format: % Value 2015-2020 Table 69 Forecast Sales of Luxury Leather Goods: Value 2020-2025 Table 70 Forecast Sales of Luxury Leather Goods: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Considered a discretionary item, the economic slowdown negatively affects luxury portable consumer electronics
Despite low sales levels, Swedish companies introduce new luxury mobile phones
Frederique Constant and TAG Heuer dominate sales with their luxury wearables
RECOVERY AND OPPORTUNITIES
Due to economic uncertainty, sales are expected to remain at modest levels
Functionality favours luxury timepieces over luxury wearables
Companies are anticipated to develop their omnichannel presence
CATEGORY DATA
Table 71 Sales of Luxury Portable Consumer Electronics by Category: Value 2015-2020 Table 72 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2015-2020 Table 73 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2015-2019 Table 74 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2016-2019 Table 75 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2015-2020 Table 76 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2020-2025 Table 77 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Home seclusion, restrictions on travel and cancellation of celebrations leads to a steep decline in luxury timepieces sales in 2020
Luxury sports watches emerge as a trend during the pandemic
Rolex and Omega continue to lead the way thanks to iconic design and strong brand image
RECOVERY AND OPPORTUNITIES
Swedish women are paying more attention to luxury timepieces
Premium and even mid-priced products risk putting pressure on fashion brands
E-commerce is anticipated to play a more important role in the luxury timepieces landscape
CATEGORY DATA
Table 78 Sales of Luxury Timepieces by Category: Value 2015-2020 Table 79 Sales of Luxury Timepieces by Category: % Value Growth 2015-2020 Table 80 NBO Company Shares of Luxury Timepieces: % Value 2015-2019 Table 81 LBN Brand Shares of Luxury Timepieces: % Value 2016-2019 Table 82 Distribution of Luxury Timepieces by Format: % Value 2015-2020 Table 83 Forecast Sales of Luxury Timepieces by Category: Value 2020-2025 Table 84 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Home seclusion and restrictions on travel negatively affect luxury writing instruments and stationary sales in 2020
Growth hampered by lack of interest in writing instruments among Swedes
Richemont is the leading player and Montblanc the number one brand
RECOVERY AND OPPORTUNITIES
Growing digitalisation is anticipated to slow recovery in luxury writing instruments and stationary
E-commerce is a way to boost luxury writing instruments and stationery sales
Calligraphy provides a possibility for future growth
CATEGORY DATA
Table 85 Sales of Luxury Writing Instruments and Stationery: Value 2015-2020 Table 86 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2015-2020 Table 87 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2015-2019 Table 88 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2016-2019 Table 89 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2015-2020 Table 90 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2020-2025 Table 91 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Super premium beauty and personal care shows resilience in the face of COVID-19
Swedes show a growing interest in super premium beauty and personal care products
Fashion houses remain the leading players in super premium beauty and personal care
RECOVERY AND OPPORTUNITIES
Super premium beauty and personal care is anticipated to recovery more rapidly given the more personal and day-to-day use of products
Men's personal care is a major growth opportunity
Premium pharma products represent strong competition for super premium products
CATEGORY DATA
Table 92 Sales of Super Premium Beauty and Personal Care by Category: Value 2015-2020 Table 93 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2015-2020 Table 94 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2015-2019 Table 95 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2016-2019 Table 96 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2015-2020 Table 97 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2020-2025 Table 98 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2020-2025