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In March 2020, the government of Argentina took swift action to close their borders in response to the outbreak of COVID-19, halting international travel. Stay-at-home orders meant consumers were adapting to new lifestyles with working from home and turning to e-commerce, with the channel offering advantages such as contactless payment, limiting the risk of viral transmission. Over June and July 2020, footfall in physical retail and recreation centres was down on average by 57% compared with pre...
Euromonitor International's Luxury Goods in Argentina 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
Sales plummet as hotels are forced to shut
Multinational chains dominate landscape
Little demand exists among locals for experiential luxury
RECOVERY AND OPPORTUNITIES
Opening to tourism again paramount to forecast period performance
Restaurants unlikely to bounce back strongly in 2021
Mendoza now on the luxury map
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 in the capital are hardest hit by closures
Marriott to unveil W Hotels outlet in Buenos Aires
Luxury hotels booming before pandemic
RECOVERY AND OPPORTUNITIES
Recovery hinges on return of foreign visitors
Mendoza holds some potential
Hotels investing in their menus to create USP
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
Big losses in both on-trade and off-trade as COVID-19 hits Argentina
Local fine wines attracting international acclaim and interest
Strengthening wine culture supporting category development
RECOVERY AND OPPORTUNITIES
Social distancing and economic downturn to slow down recovery
E-commerce now a force to be reckoned with in this category
Active promotions even more key to sales as pandemic saps purchasing power
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
COVID-19 outbreak leads to global and local barriers to category performance
Gap between official and blue dollar exchange rates prompts brief surge in sales
Lexus establishing itself in Argentina market
RECOVERY AND OPPORTUNITIES
Volume sales to gradually ease back to growth
Lower-price models helping to roll out electric cars in Argentina
New launches predicted to attract consumers despite economic downturn
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
Switch to online sales cannot compensate for outlet closures
Domestic companies playing increasingly important role
Opening in Argentina seen as too risky, even before COVID-19
RECOVERY AND OPPORTUNITIES
Much hinges on Buenos Aires avoiding further lockdowns
Prime store locations at a premium
Online purchases now an important part of personal luxury landscape
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
Volume sales plunge heavily as lockdown sees key stores shut
Importation concerns and strong price rises hamper category development
Louis Vuitton pops back up in Argentina
RECOVERY AND OPPORTUNITIES
Possibility of import restrictions hangs over category, but volume sales predicted to bounce back over forecast period
Return of international travel a threat to sales
Central bank currency obligations discourage investment for foreign players
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
Retail closures and lack of necessity push down luxury eyewear sales strongly amid pandemic
Luxottica is at sales summit
Sales already severely challenged pre-pandemic
RECOVERY AND OPPORTUNITIES
Weak economy and import dependency to limit sales bounce-back
Staff consultation will still be key factor when purchasing luxury eyewear
Latent potential for growth, with Argentina market still relatively untapped
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
Limited distribution due to COVID-19 sees volume sales plummet in 2020
Pandora takes little time to become the leading brand
Volume sales show improvement prior to pandemic
RECOVERY AND OPPORTUNITIES
Recovery in volume sales likely to be gradual, with Argentina's economic and social weaknesses continuing to threaten performance
Jewellery and watch specialist retailers likely to remain primary distributors
Italian brand Bvlgari compromising for the Argentinian market
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
Store closures and lack of e-commerce option accelerate sales decline
Louis Vuitton re-establishes its leadership in Argentina
Poorly performing economy blighting sales even before pandemic
RECOVERY AND OPPORTUNITIES
Full recovery unlikely by end of forecast period
Locally renowned leather goods pose high barrier to luxury brands
Smaller and cheaper items for common usage favoured by Argentinians
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
Sales too small to determine COVID-19 effect
KEY DATA FINDINGS
2020 IMPACT
Players use e-commerce to help mitigate huge store-based losses in 2020
COVID-19 combines with weak currency, challenging players to the limit
Slimming of consumer base offset by investment potential of luxury timepieces
RECOVERY AND OPPORTUNITIES
Reaching a bigger customer base with e-commerce
Sales could be challenged by smartwatches
Yachting a way to reach affluent consumers
CATEGORY DATA
Table 71 Sales of Luxury Timepieces by Category: Value 2015-2020 Table 72 Sales of Luxury Timepieces by Category: % Value Growth 2015-2020 Table 73 NBO Company Shares of Luxury Timepieces: % Value 2015-2019 Table 74 LBN Brand Shares of Luxury Timepieces: % Value 2016-2019 Table 75 Distribution of Luxury Timepieces by Format: % Value 2015-2020 Table 76 Forecast Sales of Luxury Timepieces by Category: Value 2020-2025 Table 77 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Narrowing of distribution channels accelerates volume sales fall
Pen producers thinking outside the box
Digital lifestyles push these products further into niche territory
RECOVERY AND OPPORTUNITIES
Category set to normalise from 2021 but sales levels nothing to write home about
Resolution of economic problems key to faster sales recovery
Concentrating on the most affluent segment may be more profitable
CATEGORY DATA
Table 78 Sales of Luxury Writing Instruments and Stationery: Value 2015-2020 Table 79 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2015-2020 Table 80 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2015-2019 Table 81 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2016-2019 Table 82 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2015-2020 Table 83 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2020-2025 Table 84 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2020-2025KEY DATA FINDINGS
2020 IMPACT
Players make strong e-commerce push as outlets shut, but overall sales plummet
New MAC boutique opens pre-pandemic
The personal touch helps keep beauty specialist retailers the channel of choice
RECOVERY AND OPPORTUNITIES
Recovery expected by middle of forecast period
Buying on credit could boost sales recovery
Pandemic sees improvement in e-commerce's reputation
CATEGORY DATA
Table 85 Sales of Super Premium Beauty and Personal Care by Category: Value 2015-2020 Table 86 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2015-2020 Table 87 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2015-2019 Table 88 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2016-2019 Table 89 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2015-2020 Table 90 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2020-2025 Table 91 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2020-2025