No products
More info
Overall, the Taiwanese luxury goods industry has not been severely impacted by the COVID-19 pandemic as most product areas will only see slight slowed growth and will continue to flourish considerably regardless of the crisis. The main reason for this is due to how well the Taiwanese government has handled the situation and was able to contain the virus within a short period of time. By April 2020, Taiwan had entered its post lockdown stage and compared to other countries, was functioning normal...
Euromonitor International's Luxury Goods in Taiwan 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 devastated as a result of border closures and international travel bans
Luxury hotels unable to offer lower daily rates in order to maintain sales during the pandemic as its reputation could be damaged
Luxury hotels unaffected by the surge in domestic travel as Taiwanese customers prefer to stay in lower-priced places
RECOVERY AND OPPORTUNITIES
Players collaborate to form package deals in a bid to boost domestic travel
Luxury hotels increase package deals in order to boost sales amongst more affluent customers
Digitalisation as a potential backup plan as experiential luxury takes some time to recover
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
Prior to the pandemic, luxury hotels was struggling as a result of the strained relationship between the Taiwanese and Chinese government and subsequent decline in Chinese tourists
Whilst some hotels close indefinitely, others close temporarily and focus on renovations
5-star hotels offer package deals to encourage local customers to stay with them
RECOVERY AND OPPORTUNITIES
Luxury hotel players focus on domestic travel as international travel takes some time to recover
International hotels expected to rebound quicker in 2021
Luxury hotels take advantage of the Triple Stimulus voucher offered by the government
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
Consumers stockpile fine wines/champagne and spirits from grocery retailers to have at home during the pandemic
High-end whiskey craze continues to grow in Taiwan as limited editions become increasingly popular
Diminished business travel leads to declining demand of fine wines/ champagne and spirits as digital interactions become increasingly apparent
RECOVERY AND OPPORTUNITIES
Growth anticipated but challenges lie ahead as the pandemic continues
Potential room for growth of e-commerce as the pandemic continues into the forecast period
Taiwanese high-end whiskies expected to overtake The UK in terms of volume sales
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
Sales decline due to weakening consumer sentiment as a result of the global economic downturn
Tesla focuses on expansion thanks to its growing success with electric vehicles
Demand for SUVs remains positive amid the overall car sales decline
RECOVERY AND OPPORTUNITIES
Containment of the virus and economic rebound will be key to the recovery of Taiwan's consumer confidence
Electric vehicles will be further boosted by governmental and business initiatives
Young consumers' growing car ownership offers opportunities for car producers
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
Affluent consumers continue to generate demand for personal luxury goods during the pandemic
Tensions with China were leading to slowed growth prior to the pandemic
Large players continue to see growth as consumers are forced to shop domestically
RECOVERY AND OPPORTUNITIES
Personal luxury in Taiwan anticipated to recover much quicker than other countries as the government continues to control the COVID-19 crisis
E-commerce gathers pace as brick-and-mortar focuses on digital platforms
Declining tourism and postponed fashion shows potentially pose a threat to demand
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
Split in consumption patterns as some consumers economise whilst others use the pandemic as an opportunity to buy
Top-tier brands continue seeing growth due to their affluent consumer base and refreshing innovations
Players target millennial consumers whilst celebrity endorsements continue to have a minimal effect
RECOVERY AND OPPORTUNITIES
Sustainability, functionality, personalisation, and differentiation are key to the recovery of designer apparel and footwear (ready-to-wear)
Unit prices set to increase as production costs rise as a consequence of the pandemic
Mid-tier luxury brands continue to lose customers to top-tier brands
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
Sun glasses rise in demand as Taiwan enters post COVID-19 life in time for the hotter months
Gucci opens flash store to launch its new Spring & Summer collections
Nikon Vision Experience offers consumers more thorough eye testing
RECOVERY AND OPPORTUNITIES
Protected purchasing powers, the growing middle class and the influence from social media stimulate growth
The emergence of fast fashion brands offering efficient services potentially poses a threat to luxury eyewear
Lack of international tourists due to ongoing travel restrictions could lead to slowed growth
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
Women's luxury fine jewellery sees the most dynamic growth due to its more affluent consumer base who have been less impacted by the pandemic
Declining demand for wedding related luxury jewellery as couples postpone their weddings
Korean Netflix show boosts the demand for Swarovski jewellery
RECOVERY AND OPPORTUNITIES
Slowed growth as other countries battling with the virus leads to declining international orders
Brands expected to launch affordable costume jewellery for the growing segment of younger, independent women
Brands and retailers focus on e-commerce as a way to ensure consistent sales in the future
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
Demand for luxury travel goods diminish as international travel bans and border closures see tourism come to a halt
Top-tier brands remain in high demand due to its affluent target consumer being unharmed financially by the pandemic
E-commerce gathers pace during the pandemic thanks to online platforms such as LVMH's 24 Sevres
RECOVERY AND OPPORTUNITIES
Eased travel restrictions kickstart the recovery process, however the global supply chain continues to struggle
Social media remains a crucial role in the advertising and exposure of women's luxury bags and small leather goods
The fashion industry will continue to struggle until the virus is controlled on a global level
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
Slowed growth due to declining consumer confidence despite the pandemic being dealt with relatively quickly
As unit prices of non-luxury smartwatches creep up, consumers fail to justify the higher price point of luxury smartwatches
Luxury mobile phones continue to lose consumers to luxury wearables and non-luxury smartphones
RECOVERY AND OPPORTUNITIES
An immediate recovery expected as consumer confidence is restored
Luxury wearables continue to show the most dynamic growth thanks to innovations and the novelty appeal
Brands within luxury mobile phones focus on innovation in order to combat the challenges that lie ahead
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
Affluent consumers unable to travel leads to a strong performance of luxury timepieces despite the pandemic
Men's luxury time pieces show the most dynamic growth due to it symbol of status
Lack of tourism is one of the main causes of timepieces' slowed growth in 2020
RECOVERY AND OPPORTUNITIES
Rebound expected from 2021 as consumption patterns remain unharmed by the pandemic
Women's luxury timepieces present more room for players to enter the competitive landscape
Unit prices anticipated to rise due to the surge in demand of limited-edition watches
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
Newfound hobbies such as writing lead to demand for luxury writing instruments during the pandemic
Luxury writing instruments competes with the rise of digital devices and other more symbolic luxury goods
Cie Financiere Richemont launches Mont Blanc x Le Petit Prince
RECOVERY AND OPPORTUNITIES
Stable consumer base continues to stimulate consistent growth over the forecast period
Sales of luxury writing instruments continue to be done via in-store retailers as consumers want to try out their luxury item before purchasing
innovation possibility to focus on the merging of digital devices and writing instruments
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
Reduced socialising leads to drop in demand for product areas associated with appearance
Super premium skin care sees the most dynamic growth as consumers dedicate more time to the health and appearance of their skin during the pandemic
Christian Dior remained the leading brand in 2019 benefiting from the rising demand for super premium fragrances
RECOVERY AND OPPORTUNITIES
Super premium skin care stimulates growth for the overall product area
E-commerce gathers pace due to the increasing presence of pop-up shops
Hermes announces it will expand its portfolio to super premium beauty and personal care
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