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Malaysia declared a Movement Control Order (MCO) between 18 March and 4 May 2020 which resulted in a total lockdown of the country. During this time, consumers were only allowed to travel to shop for essentials such as groceries. Furthermore, residents were limited to a travel radius of 10km from their residential home. Since all non-essential stores were forced to close, there was a strong dip in sales of luxury goods during this time. Retail stores only reopened in stages from 4 May onwards.
Euromonitor International's Luxury Goods in Malaysia 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
Mandated border closures dampen growth in 2020
Country lockdown further dampened growth in 2020
Leading brands attempt to entice consumers with promotional campaigns
RECOVERY AND OPPORTUNITIES
Recovery of experiential luxury in the forecast period will be slow
Players expected to delay openings of experiential luxury outlets such as luxury hotels
Economic fallout of COVID-19 will further delay the recovery
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 struggle under Malaysian lockdown in 2020
Luxury hotel players turn to promotional packages to entice consumers during reopening
2020 will be a lacklustre year for luxury hotels
RECOVERY AND OPPORTUNITIES
Slow recovery for luxury hotels in the forecast period due to dismal inbound tourism prospects
More affordable hotels will post stiff competition to luxury hotels in forecast period
Demand will stem from domestic tourism hotspots
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
Lockdown measures curb demand for fine wines/champagne and spirits in 2020
Players launch special initiatives to stimulate demand
Online channels provide a way around movement restrictions
RECOVERY AND OPPORTUNITIES
Luxury spirits on track to post a quicker recovery in the forecast period
Resumed restaurant and bar operations will support growth
E-commerce will continue gaining importance
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
Demand for luxury cars is expected to rebound quickly in the second half of 2020
COVID-19 has forced many brands to focus on delivery services
Innovative financing offers help attract consumers
RECOVERY AND OPPORTUNITIES
Rising environmental consciousness will fuel recovery and demand for hybrid models in the forecast period
SUVs will continue to see booming demand
Partnerships with authorised car dealers will continue
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
Personal luxury endures a negative effect from COVID-19 in 2020
Players engage in various marketing strategies amidst the pandemic
Online expansion became critical in 2020
RECOVERY AND OPPORTUNITIES
Recovery in the forecast period will vary based on demand
Discounts likely to continue in the forecast period
Players will continue turning to e-commerce
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
Demand lowered amidst the pandemic in 2020
Players engage in marketing strategies to stimulate sales
Online presence becomes increasingly important
RECOVERY AND OPPORTUNITIES
Slow recovery anticipated due to difficulties with international travel in the beginning of the forecast period
Players will continue engaging in discounts to entice consumers
Growing numbers of e-commerce channels expected
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
Movement restrictions hurt luxury eyewear sales in 2020
Travel restrictions further restricted demand
Retailers and players respond to COVID-19
RECOVERY AND OPPORTUNITIES
Entry-level pricing will support a swifter recovery of luxury eyewear
Gloomy economic recovery may limit sales
E-commerce will strengthen
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 and related restrictions slow growth in luxury jewellery in 2020
Different strategies enacted in response to the pandemic
Online presence becomes especially important for entry-level brands
RECOVERY AND OPPORTUNITIES
Women's luxury fine jewellery will drive recovery in the forecast period
Strong marketing will drive sales
Players will continue with online expansions
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 slows amidst the global pandemic in 2020
Online distribution channels become especially significant
Players use price reductions to attract consumers
RECOVERY AND OPPORTUNITIES
Women's luxury bags and small leather goods set to post quicker recovery
Luxury travel goods will struggle to recover
E-commerce will continue to gain importance
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
Loss of international tourists hurts sales in 2020
Online shopping mitigates negative effects from border closures and movement restrictions
Minimal new launches seen in 2020 due to economic uncertainty
RECOVERY AND OPPORTUNITIES
Swift recovery expected in the forecast period
Online presence will continue to gain importance
Physical outlets will attract consumers once the pandemic is stabilised
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
Sales drop amidst the COVID-19 pandemic in 2020
Proactive approach taken towards the pandemic by retailers
Readily available alternatives hurt sales in 2020
RECOVERY AND OPPORTUNITIES
The forecast period is set to see a slow recovery
Online platforms will become increasingly important
Players will continue to make efforts to ease the purchasing process
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
Country lockdown inhibits sales in 2020
Demand notably shrinks in 2020 due to COVID-19
Trading down further limits sales
RECOVERY AND OPPORTUNITIES
Slow recovery expected in the forecast period
Promotional strategies will remain crucial
Online players will continue emerging
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
Performance was negatively affected by COVID-19 in 2020
External factors further limit demand
Engagement through online platforms becomes essential
RECOVERY AND OPPORTUNITIES
Recovery speed will vary in the forecast period
E-commerce will continue gaining importance
New product launches will revive demand
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