Luxury Goods in Singapore

October 2023 | 46 pages | ID: L80270A304EEN
Euromonitor International Ltd

Abstracts

Retail value sales of luxury goods in Singapore increased by 11% in 2023 in current terms, to total SGD12.4 billion. Development was still widely defined by recovery and a return to more normal consumer behaviour in terms of working, shopping, travelling, and spending on luxury goods, as those consumers that could afford to, looked to treat themselves following lockdown. During the latter half of the review period, sales experienced a notable boost due to the resurgence of affluent travellers an...

Euromonitor International's Luxury Goods in Singapore 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 2027 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.

Euromonitor International has over 40 years' experience of publishing market research reports, business reference books and online information systems. With offices in London, Chicago, Singapore, Shanghai, Vilnius, Dubai, Cape Town, Santiago, Sydney, Tokyo and Bangalore and a network of over 800 analysts worldwide, Euromonitor International has a unique capability to develop reliable information resources to help drive informed strategic planning.

Contents

LUXURY GOODS IN SINGAPORE
EXECUTIVE SUMMARY
Luxury goods in 2023: The big picture
2023 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
MARKET DATA
Table 1 Sales of Luxury Goods by Category: Value 2018-2023
Table 2 Sales of Luxury Goods by Category: % Value Growth 2018-2023
Table 3 Inbound Receipts for Luxury Goods by Country of Origin: Value 2018-2023
Table 4 NBO Company Shares of Luxury Goods: % Value 2018-2023
Table 5 LBN Brand Shares of Luxury Goods: % Value 2019-2023
Table 6 Distribution of Luxury Goods by Format and Category: % Value 2023
Table 7 Forecast Sales of Luxury Goods by Category: Value 2023-2028
Table 8 Forecast Sales of Luxury Goods by Category: % Value Growth 2023-2028
DISCLAIMER
SOURCES
Summary 1 Research Sources
EXPERIENTIAL LUXURY IN SINGAPORE
KEY DATA FINDINGS
2023 DEVELOPMENTS
Current retail value sales of experiential luxury on the rise in 2023
Luxury hotels records the highest value increase within the category overall in 2023
Marina Bay Sands Pte Ltd leads experiential luxury in 2022
PROSPECTS AND OPPORTUNITIES
Retail value sales expected to rise over the forecast period
Luxury hotels expected to register the most dynamic performance over the forecast period
CATEGORY DATA
Table 9 Sales of Experiential Luxury by Category: Value 2018-2023
Table 10 Sales of Experiential Luxury by Category: % Value Growth 2018-2023
Table 11 NBO Company Shares of Experiential Luxury: % Value 2018-2023
Table 12 LBN Brand Shares of Experiential Luxury: % Value 2019-2022
Table 13 Forecast Sales of Experiential Luxury by Category: Value 2023-2028
Table 14 Forecast Sales of Experiential Luxury by Category: % Value Growth 2023-2028
FINE WINES/CHAMPAGNE AND SPIRITS IN SINGAPORE
KEY DATA FINDINGS
2023 DEVELOPMENTS
Fine wines/champagne and spirits sees rising current retail value sales in 2023
Fine wines is the largest subcategory in terms of value sales in 2023
Moлt Hennessy Diageo Singapore Pte Ltd is the number one player in fine wines/champagne and spirits in 2022
PROSPECTS AND OPPORTUNITIES
Value sales expected to experience an increase in constant 2023 terms over 2023-2028
Fine wines forecast to experience the most dynamic percentage CAGR rise during 2023-2028
CATEGORY DATA
Table 15 Sales of Fine Wines/Champagne and Spirits by Category: Value 2018-2023
Table 16 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2018-2023
Table 17 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2018-2022
Table 18 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2018-2023
Table 19 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2023-2028
Table 20 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2023-2028
PREMIUM AND LUXURY CARS IN SINGAPORE
KEY DATA FINDINGS
2023 DEVELOPMENTS
Premium and luxury cars records positive current retail value sales growth in 2023
Number of premium and luxury cars on the rise
Premium and luxury cars is led by Daimler South East Asia Pte Ltd in 2022
PROSPECTS AND OPPORTUNITIES
Value sales of premium and luxury cars forecast to rise over 2023-2028
Online sales set to rise in significance
Electric cars expected to see good growth
CATEGORY DATA
Table 21 Sales of Premium and Luxury Cars: Value 2018-2023
Table 22 Sales of Premium and Luxury Cars by Category: % Value Growth 2018-2023
Table 23 NBO Company Shares of Premium and Luxury Cars: % Value 2018-2023
Table 24 LBN Brand Shares of Premium and Luxury Cars: % Value 2019-2023
Table 25 Forecast Sales of Premium and Luxury Cars: Value 2023-2028
Table 26 Forecast Sales of Premium and Luxury Cars: % Value Growth 2023-2028
PERSONAL LUXURY IN SINGAPORE
KEY DATA FINDINGS
2023 DEVELOPMENTS
Personal luxury sees a rise in current retail value sales in 2023
Designer apparel (ready-to-wear) dominates designer apparel and footwear (ready-to-wear)
Luxury eyewear records rise in value sales
Retail value sales of luxury jewellery rise in 2023
Luxury leather goods sees positive value growth in 2023
Luxury wearables electronics sees relatively low value sales in 2023
Luxury timepieces sees value sales increase
Value sales of luxury writing instruments and stationery on the up in 2023
Value of super premium beauty and personal care sees a sales rise
Rolex Singapore Pte Ltd holds the lead in personal luxury in 2022
PROSPECTS AND OPPORTUNITIES
Value sales are expected to go up in 2023 constant terms during the forecast period
Luxury jewellery looks set to remain biggest subcategory in value terms in 2028
Luxury leather goods looks likely to see the most dynamic percentage growth over forecast period
CATEGORY DATA
Table 27 Sales of Personal Luxury by Category: Value 2018-2023
Table 28 Sales of Personal Luxury by Category: % Value Growth 2018-2023
Table 29 NBO Company Shares of Personal Luxury: % Value 2018-2023
Table 30 LBN Brand Shares of Personal Luxury: % Value 2019-2023
Table 31 Distribution of Personal Luxury by Format: % Value 2018-2023
Table 32 Forecast Sales of Personal Luxury by Category: Value 2023-2028
Table 33 Forecast Sales of Personal Luxury by Category: % Value Growth 2023-2028