Table of Content

Luxury Goods in Malaysia
Euromonitor International
December 2021

List Of Contents And Tables

LUXURY GOODS IN MALAYSIA
EXECUTIVE SUMMARY
Luxury goods in 2021: The big picture
2021 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
MARKET DATA
Table 1 Sales of Luxury Goods by Category: Value 2016-2021
Table 2 Sales of Luxury Goods by Category: % Value Growth 2016-2021
Table 3 Inbound Receipts for Luxury Goods by Country of Origin: Value 2016-2021
Table 4 NBO Company Shares of Luxury Goods: % Value 2016-2020
Table 5 LBN Brand Shares of Luxury Goods: % Value 2017-2020
Table 6 Distribution of Luxury Goods by Format and Category: % Value 2021
Table 7 Forecast Sales of Luxury Goods by Category: Value 2021-2026
Table 8 Forecast Sales of Luxury Goods by Category: % Value Growth 2021-2026
DISCLAIMER
SOURCES
Summary 1 Research Sources
EXPERIENTIAL LUXURY IN MALAYSIA
KEY DATA FINDINGS
2021 DEVELOPMENTS
The reintroduction of the government’s FMCO leads to closure of luxury hotels which were already suffering from the loss of international tourists
Experiential luxury brands enhance shopping experience through phygital experience
Players engage in promotional campaigns to sustain themselves during the pandemic
PROSPECTS AND OPPORTUNITIES
Unique luxury and premium travel experience enhance competitiveness
Surge in e-commerce sales share especially after international travel reopens
Recovering demand for luxury cars as luxury brands deliver hybrid variants
CATEGORY DATA
Table 9 Sales of Experiential Luxury by Category: Value 2016-2021
Table 10 Sales of Experiential Luxury by Category: % Value Growth 2016-2021
Table 11 NBO Company Shares of Experiential Luxury: % Value 2016-2020
Table 12 LBN Brand Shares of Experiential Luxury: % Value 2017-2020
Table 13 Forecast Sales of Experiential Luxury by Category: Value 2021-2026
Table 14 Forecast Sales of Experiential Luxury by Category: % Value Growth 2021-2026
LUXURY HOTELS IN MALAYSIA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Recovery slows due to prolonged country lockdown in 2021
Luxury hotels reformulate their strategies to help them survive
Government pilot scheme on Langkawi Island sparks reopening of the country’s borders
PROSPECTS AND OPPORTUNITIES
The launch of more luxury hotels postponed until mid-forecast period
Pioneer project on Langkawi Island creates reasons for optimism
Pick up of travel industry expected over the forecast period
CATEGORY DATA
Table 15 Sales in Luxury Hotels: Value 2016-2021
Table 16 Sales in Luxury Hotels: % Value Growth 2016-2021
Table 17 NBO Company Shares in Luxury Hotels: % Value 2016-2020
Table 18 LBN Brand Shares in Luxury Hotels: % Value 2017-2020
Table 19 Forecast Sales in Luxury Hotels: Value 2021-2026
Table 20 Forecast Sales in Luxury Hotels: % Value Growth 2021-2026
FINE WINES/CHAMPAGNE AND SPIRITS IN MALAYSIA
KEY DATA FINDINGS
2021 DEVELOPMENTS
The ongoing presence of COVID-19 and government measures to contain its spread continue to suppress category sales in 2021
Industry players continue to invest in new product launches and develop interesting scientific initiatives since the pandemic
Government measures to control the spread of COVID-19 force switch of key distribution channels to e-commerce
PROSPECTS AND OPPORTUNITIES
Demand for fine wines/champagnes and spirits picks up as the forecast period progresses
Growth in e-commerce as consumers appreciate the convenience and lower prices while discounts and promotional activities come to the fore across all distribution channels
Change in government policy further stimulates shift in demand to e-commerce
CATEGORY DATA
Table 21 Sales of Fine Wines/Champagne and Spirits by Category: Value 2016-2021
Table 22 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2016-2021
Table 23 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2016-2020
Table 24 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2017-2020
Table 25 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2016-2021
Table 26 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2021-2026
Table 27 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2021-2026
PREMIUM AND LUXURY CARS IN MALAYSIA
KEY DATA FINDINGS
2021 DEVELOPMENTS
New launches focus on sustainable green energy
Government imposed tax-relief helps luxury brands ride the pandemic
Leading brands launch innovative selling, services and delivery strategies to reach consumers during the pandemic
PROSPECTS AND OPPORTUNITIES
Demand ramps up over the forecast period boosted by an alleviation of the pandemic and new models
Partnerships with authorised car dealers continue while some manufacturers set up local assembly plants
Government policy on EV tax exemption and improvement in EV infrastructure boost demand for EV vehicles over the forecast period
CATEGORY DATA
Table 28 Sales of Premium and Luxury Cars: Value 2016-2021
Table 29 Sales of Premium and Luxury Cars: % Value Growth 2016-2021
Table 30 NBO Company Shares of Premium and Luxury Cars: % Value 2016-2020
Table 31 LBN Brand Shares of Premium and Luxury Cars: % Value 2017-2020
Table 32 Forecast Sales of Premium and Luxury Cars: Value 2021-2026
Table 33 Forecast Sales of Premium and Luxury Cars: % Value Growth 2021-2026
PERSONAL LUXURY IN MALAYSIA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Restrictions on international travellers slows recovery while permission for domestic cross state travel at the end of the year provides little opportunity for category growth in 2021
Discounts remain a crucial marketing strategy for some personal luxury categories
International brands continue their expansion footprint in Malaysia and further develop or launch e-commerce platforms
PROSPECTS AND OPPORTUNITIES
Industry players adopt numerous strategies to reboot their sales including discounting and phygital and virtual shopping experiences
Sustainability becomes a key decision factor for consumers in personal luxury to which industry players are responding with new launches
E-commerce remains an increasingly significant distribution channel
CATEGORY DATA
Table 34 Sales of Personal Luxury by Category: Value 2016-2021
Table 35 Sales of Personal Luxury by Category: % Value Growth 2016-2021
Table 36 NBO Company Shares of Personal Luxury: % Value 2016-2020
Table 37 LBN Brand Shares of Personal Luxury: % Value 2017-2020
Table 38 Distribution of Personal Luxury by Format: % Value 2016-2021
Table 39 Forecast Sales of Personal Luxury by Category: Value 2021-2026
Table 40 Forecast Sales of Personal Luxury by Category: % Value Growth 2021-2026
DESIGNER APPAREL AND FOOTWEAR (READY-TO-WEAR) IN MALAYSIA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Slow recovery in 2021 due to prolonged presence of COVID-19 in the country
Athleisure becomes centre of attention for designer apparel and footwear brands after consumers spend many months at home
Collaboration between luxury and non-luxury brands
PROSPECTS AND OPPORTUNITIES
Recovery takes place over the forecast period but dependent on further outbreaks and government measures to tackle the spread over the forecast period
While offline remains the largest channel the popularity of e-commerce continues to surge over the forecast period
Sustainability becomes increasingly important in consumers’ purchasing decisions
CATEGORY DATA
Table 41 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2016-2021
Table 42 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2016-2021
Table 43 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2016-2020
Table 44 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2017-2020
Table 45 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2016-2021
Table 46 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2021-2026
Table 47 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2021-2026
LUXURY EYEWEAR IN MALAYSIA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Despite prolonged exposure to digital devices and subsequent boost to luxury spectacle frames, the ongoing presence of the virus slows industry recovery in 2021
Limited travel and home-based lifestyles and subsequent decimation of impulse purchases hamper category sales in 2021
Industry players and retailers engage in discounting in order to make their brands more enticing and to shift old stock
PROSPECTS AND OPPORTUNITIES
Strong recovery for luxury eyewear from 2022 onwards
Consumers continue to favour bricks and mortar distribution channels although e-commerce sees further growth through the development and progression of virtual try-on technology
Industry recovers as society resumes normality though discounts remain a crucial marketing strategy as both consumers and industry players recover from the economic fallout from the pandemic
CATEGORY DATA
Table 48 Sales of Luxury Eyewear by Category: Value 2016-2021
Table 49 Sales of Luxury Eyewear by Category: % Value Growth 2016-2021
Table 50 NBO Company Shares of Luxury Eyewear: % Value 2016-2020
Table 51 LBN Brand Shares of Luxury Eyewear: % Value 2017-2020
Table 52 Distribution of Luxury Eyewear by Format: % Value 2016-2021
Table 53 Forecast Sales of Luxury Eyewear by Category: Value 2021-2026
Table 54 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2021-2026
LUXURY JEWELLERY IN MALAYSIA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Slow recovery of luxury jewellery in 2021 due to the ongoing pandemic
Discounting employed for entry level brands while fine jewellery players focus on exclusivity and product differentiation
International luxury jewellery players remain highly active in new product launches and the facilitation of walk-in store appointments with e-commerce the reserve of entry-level brands
PROSPECTS AND OPPORTUNITIES
Growth in e-commerce for entry-level luxury jewellery and luxury costume jewellery while luxury fine jewellery remains in the domain of offline
Brands develop and further employ home delivery and concierge services even after the pandemic recedes thanks to ongoing consumer demand
Positive outlook for luxury jewellery as international tourists return and luxury shopping centres reopen
CATEGORY DATA
Table 55 Sales of Luxury Jewellery by Category: Value 2016-2021
Table 56 Sales of Luxury Jewellery by Category: % Value Growth 2016-2021
Table 57 NBO Company Shares of Luxury Jewellery: % Value 2016-2020
Table 58 LBN Brand Shares of Luxury Jewellery: % Value 2017-2020
Table 59 Distribution of Luxury Jewellery by Format: % Value 2016-2021
Table 60 Forecast Sales of Luxury Jewellery by Category: Value 2021-2026
Table 61 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2021-2026
LUXURY LEATHER GOODS IN MALAYSIA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Demand growth stimulated by domestic consumption but recovery remains slow in 2021
Price reductions, new launches and novel marketing concepts all embraced as industry players endeavour to reach out to and attract consumers
Recovery delayed for luxury travel goods due to the ongoing presence of COVID-19 and government measures to control its spread
PROSPECTS AND OPPORTUNITIES
Recovery expected to strengthen in the forecast period as government restrictions ease and the country resumes a greater degree of normality
Growing competitive advantage for e-commerce as more players respond to changing consumer purchasing patterns
Sustainability becomes more important in consumers’ buying decisions over the forecast period
CATEGORY DATA
Table 62 Sales of Luxury Leather Goods: Value 2016-2021
Table 63 Sales of Luxury Leather Goods: % Value Growth 2016-2021
Table 64 NBO Company Shares of Luxury Leather Goods: % Value 2016-2020
Table 65 LBN Brand Shares of Luxury Leather Goods: % Value 2017-2020
Table 66 Distribution of Luxury Leather Goods by Format: % Value 2016-2021
Table 67 Forecast Sales of Luxury Leather Goods: Value 2021-2026
Table 68 Forecast Sales of Luxury Leather Goods: % Value Growth 2021-2026
LUXURY PORTABLE CONSUMER ELECTRONICS IN MALAYSIA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Slight recovery for this small category as it remains unappealing to most wealthy consumers
Growth in e-commerce as consumers feel confident buying these products online as stores remained closed for much of 2021
Despite consumer reluctance to spend on these products due to economic uncertainty, luxury wearables remains the mainstay of category sales thanks to fitness tracking monitors
PROSPECTS AND OPPORTUNITIES
Swift rebound for category sales thanks to a lifting of the travel ban and the ongoing strong buying power of the wealthiest socioeconomic groups
Growth in e-commerce stimulated by new shopping habits and a developing infrastructure
Bricks and mortar outlets remain the channel of choice, despite growth in e-commerce
CATEGORY DATA
Table 69 Sales of Luxury Portable Consumer Electronics by Category: Value 2016-2021
Table 70 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2016-2021
Table 71 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2016-2020
Table 72 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2017-2020
Table 73 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2016-2021
Table 74 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2021-2026
Table 75 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2021-2026
LUXURY TIMEPIECES IN MALAYSIA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Return of famous annual event for luxury timepieces
Consumers begin to divert savings made on international travel towards luxury timepieces in 2021
Strong price competition for entry-level luxury timepieces and growth in e-commerce
PROSPECTS AND OPPORTUNITIES
Rapid growth spike in 2022 after which sales growth slows to more normal levels
Industry players increasingly tap into e-commerce, especially for entry-levels brands
Aggressive new launches expected once travel restrictions ease and international tourists are able to return to Malaysia
CATEGORY DATA
Table 76 Sales of Luxury Timepieces by Category: Value 2016-2021
Table 77 Sales of Luxury Timepieces by Category: % Value Growth 2016-2021
Table 78 NBO Company Shares of Luxury Timepieces: % Value 2016-2020
Table 79 LBN Brand Shares of Luxury Timepieces: % Value 2017-2020
Table 80 Distribution of Luxury Timepieces by Format: % Value 2016-2021
Table 81 Forecast Sales of Luxury Timepieces by Category: Value 2021-2026
Table 82 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2021-2026
LUXURY WRITING INSTRUMENTS AND STATIONERY IN MALAYSIA
KEY DATA FINDINGS
2021 DEVELOPMENTS
Slight recovery of writing instruments and stationery in 2021 as demand grows
Leading players maintain their positions through aggressive new product launches
Social media enables fans of luxury writing instruments and stationery to stay connected during many months of home seclusion
PROSPECTS AND OPPORTUNITIES
Surge in e-commerce continues into the forecast period
New product launches focus more heavily on distinctive and unique signature features and designs
Marginal discounts used as a competitive strategy for affordable luxury brands
CATEGORY DATA
Table 83 Sales of Luxury Writing Instruments and Stationery: Value 2016-2021
Table 84 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2016-2021
Table 85 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2016-2020
Table 86 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2017-2020
Table 87 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2016-2021
Table 88 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2021-2026
Table 89 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2021-2026
SUPER PREMIUM BEAUTY AND PERSONAL CARE IN MALAYSIA
KEY DATA FINDINGS
2021 DEVELOPMENTS
The pandemic and government measures to control its spread have mixed effects across the category
Active new product launches sustain competitiveness
Retailers and brand manufacturers engage in discounting and develop their e-commerce activities
PROSPECTS AND OPPORTUNITIES
E-commerce grows while retailing via social media emerges over the forecast period
Entrance of more super premium beauty and personal care international brands over the forecast period
“Phygital” shopping experience offers players and consumers distinctive advantages
CATEGORY DATA
Table 90 Sales of Super Premium Beauty and Personal Care by Category: Value 2016-2021
Table 91 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2016-2021
Table 92 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2016-2020
Table 93 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2017-2020
Table 94 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2016-2021
Table 95 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2021-2026
Table 96 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2021-2026