Table of Content

Luxury Goods in Taiwan
Euromonitor International
December 2021

List Of Contents And Tables

LUXURY GOODS IN TAIWAN
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 TAIWAN
KEY DATA FINDINGS
2021 DEVELOPMENTS
Experiential luxury ravaged due to domestic and international travel bans
Luxury hotels start to offer lower daily rates to maintain sales during the pandemic, taking risks with their reputation
Luxury hotels offering half-day and single-day non-overnight packages to stimulate business
PROSPECTS AND OPPORTUNITIES
Players collaborate with attractions and restaurants to offer package deals
Luxury hotels increase offer of customised packages to boost sales among rich customers
Digitalisation is a potential back-up plan as experiential luxury takes some time to recover
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 FOODSERVICE IN TAIWAN
2021 DEVELOPMENTS
Negligible sales following departure of Cova
CATEGORY DATA
Table 15 Sales in Luxury Foodservice: Value 2016-2021
Table 16 Sales in Luxury Foodservice: % Value Growth 2016-2021
Table 17 NBO Company Shares in Luxury Foodservice: % Value 2016-2020
Table 18 LBN Brand Shares in Luxury Foodservice: % Value 2017-2020
LUXURY HOTELS IN TAIWAN
KEY DATA FINDINGS
2021 DEVELOPMENTS
Luxury hotels focusing on new southbound policy countries in the EU and Americas prior to the pandemic
While some hotels close indefinitely, others do so only temporarily
5-star hotels offer cruise-style accommodation packages to encourage local customers to stay with them
PROSPECTS AND OPPORTUNITIES
Luxury hotel players focus on domestic visitors as international travel expected to take some time to recover
Luxury hotels expected to rebound quicker than budget hotels
Luxury hotels take advantage of the COVID-19 cash bailout offered by the government
CATEGORY DATA
Table 19 Sales in Luxury Hotels: Value 2016-2021
Table 20 Sales in Luxury Hotels: % Value Growth 2016-2021
Table 21 NBO Company Shares in Luxury Hotels: % Value 2016-2020
Table 22 LBN Brand Shares in Luxury Hotels: % Value 2017-2020
Table 23 Forecast Sales in Luxury Hotels: Value 2021-2026
Table 24 Forecast Sales in Luxury Hotels: % Value Growth 2021-2026
FINE WINES/CHAMPAGNE AND SPIRITS IN TAIWAN
KEY DATA FINDINGS
2021 DEVELOPMENTS
Consumers purchase fine wines/champagne and spirits to have at home during the pandemic
Limited editions and cobranding of fine wines/champagne and spirits continue to grow in Taiwan
Reduced business travel leads to declining demand for fine wines/champagne
PROSPECTS AND OPPORTUNITIES
Further growth expected, but challenges lie ahead as the pandemic continues
Limited potential for e-commerce growth due to legal restrictions
Consumption of high-end whiskies will continue growing in Taiwan
CATEGORY DATA
Table 25 Sales of Fine Wines/Champagne and Spirits by Category: Value 2016-2021
Table 26 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2016-2021
Table 27 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2016-2020
Table 28 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2017-2020
Table 29 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2016-2021
Table 30 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2021-2026
Table 31 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2021-2026
PREMIUM AND LUXURY CARS IN TAIWAN
KEY DATA FINDINGS
2021 DEVELOPMENTS
Taiwan manages to continue recording positive volume sales during the pandemic
Tesla recording growth thanks to the rising demand for electric vehicles
Demand for SUVs and MPVs remains positive
PROSPECTS AND OPPORTUNITIES
Containment of the virus and economic rebound key to the recovery of consumer confidence in Taiwan
Electric vehicles will be further boosted by government and business initiatives
Declining car ownership among young consumers represents a challenge for carmakers
CATEGORY DATA
Table 32 Sales of Premium and Luxury Cars: Value 2016-2021
Table 33 Sales of Premium and Luxury Cars: % Value Growth 2016-2021
Table 34 NBO Company Shares of Premium and Luxury Cars: % Value 2016-2020
Table 35 LBN Brand Shares of Premium and Luxury Cars: % Value 2017-2020
Table 36 Forecast Sales of Premium and Luxury Cars: Value 2021-2026
Table 37 Forecast Sales of Premium and Luxury Cars: % Value Growth 2021-2026
PERSONAL LUXURY IN TAIWAN
KEY DATA FINDINGS
2021 DEVELOPMENTS
Affluent consumers continue to generate strong demand for personal luxury goods during the pandemic
Tensions with China not having too much of a negative impact on personal luxury
Large players continue to see growth as consumers are forced to shop domestically
PROSPECTS AND OPPORTUNITIES
Personal luxury expected to continue growing in Taiwan
COVID-19 speeds up e-commerce growth as bricks-and-mortar retailers focus on digital platforms
Declining tourism and postponed fashion shows potentially pose a threat to demand
CATEGORY DATA
Table 38 Sales of Personal Luxury by Category: Value 2016-2021
Table 39 Sales of Personal Luxury by Category: % Value Growth 2016-2021
Table 40 NBO Company Shares of Personal Luxury: % Value 2016-2020
Table 41 LBN Brand Shares of Personal Luxury: % Value 2017-2020
Table 42 Distribution of Personal Luxury by Format: % Value 2016-2021
Table 43 Forecast Sales of Personal Luxury by Category: Value 2021-2026
Table 44 Forecast Sales of Personal Luxury by Category: % Value Growth 2021-2026
DESIGNER APPAREL AND FOOTWEAR (READY-TO-WEAR) IN TAIWAN
KEY DATA FINDINGS
2021 DEVELOPMENTS
Some consumers economise while others use the pandemic as an opportunity to purchase designer products
Top-tier brands continue seeing growth due to rich consumer base and refreshing innovations
Players target millennial consumers as the impact of internet KOLs continues to grow
PROSPECTS 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 compete for customers with top-tier brands
CATEGORY DATA
Table 45 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2016-2021
Table 46 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2016-2021
Table 47 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2016-2020
Table 48 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2017-2020
Table 49 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2016-2021
Table 50 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2021-2026
Table 51 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2021-2026
LUXURY EYEWEAR IN TAIWAN
KEY DATA FINDINGS
2021 DEVELOPMENTS
Consistent demand for luxury eyewear being seen in Taiwan
Gucci launches 2021 oversized limited edition
Kobayashi offers huge discounts to attract consumers
PROSPECTS AND OPPORTUNITIES
The growing middle class and the social media influence will help drive demand
The emergence of fast fashion brands offering efficient services potentially poses a threat to luxury eyewear
Lack of tourists due to ongoing travel restrictions could result in some lost sales
CATEGORY DATA
Table 52 Sales of Luxury Eyewear by Category: Value 2016-2021
Table 53 Sales of Luxury Eyewear by Category: % Value Growth 2016-2021
Table 54 NBO Company Shares of Luxury Eyewear: % Value 2016-2020
Table 55 LBN Brand Shares of Luxury Eyewear: % Value 2017-2020
Table 56 Distribution of Luxury Eyewear by Format: % Value 2016-2021
Table 57 Forecast Sales of Luxury Eyewear by Category: Value 2021-2026
Table 58 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2021-2026
LUXURY JEWELLERY IN TAIWAN
KEY DATA FINDINGS
2021 DEVELOPMENTS
Women’s luxury fine jewellery most dynamic thanks to its well-off consumer base
Declining demand for wedding-related luxury jewellery as fewer young couples make purchases for their weddings
Bling Empire Netflix show puts jewellery collections in the spotlight
PROSPECTS AND OPPORTUNITIES
Slower growth as COVID-19 leads to declining international orders
Brands continue to launch affordable costume jewellery for the growing segment of younger and independent women
Brands and retailers continue to focus on e-commerce as a way to ensure
consistent sales in the future
CATEGORY DATA
Table 59 Sales of Luxury Jewellery by Category: Value 2016-2021
Table 60 Sales of Luxury Jewellery by Category: % Value Growth 2016-2021
Table 61 NBO Company Shares of Luxury Jewellery: % Value 2016-2020
Table 62 LBN Brand Shares of Luxury Jewellery: % Value 2017-2020
Table 63 Distribution of Luxury Jewellery by Format: % Value 2016-2021
Table 64 Forecast Sales of Luxury Jewellery by Category: Value 2021-2026
Table 65 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2021-2026
LUXURY LEATHER GOODS IN TAIWAN
KEY DATA FINDINGS
2021 DEVELOPMENTS
Demand for luxury travel goods declines as international travel bans and border closures see tourism come to a halt
Demand remains strong for top-tier brands as their well-off buyers are not impacted financially by the pandemic
E-commerce gathers pace during the pandemic thanks to online platforms from brands like Louis Vuitton and Coach
PROSPECTS AND OPPORTUNITIES
Eased travel restrictions should kick-start the recovery process in luxury travel goods
Social media will maintain 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 under control on a global level
CATEGORY DATA
Table 66 Sales of Luxury Leather Goods: Value 2016-2021
Table 67 Sales of Luxury Leather Goods: % Value Growth 2016-2021
Table 68 NBO Company Shares of Luxury Leather Goods: % Value 2016-2020
Table 69 LBN Brand Shares of Luxury Leather Goods: % Value 2017-2020
Table 70 Distribution of Luxury Leather Goods by Format: % Value 2016-2021
Table 71 Forecast Sales of Luxury Leather Goods: Value 2021-2026
Table 72 Forecast Sales of Luxury Leather Goods: % Value Growth 2021-2026
LUXURY PORTABLE CONSUMER ELECTRONICS IN TAIWAN
KEY DATA FINDINGS
2021 DEVELOPMENTS
Consumer confidence hit by the pandemic
Non-luxury smartwatches represent increasing competition for luxury smartwatches
Luxury mobile phones continue to lose consumers to luxury wearables and non-luxury smartphones
PROSPECTS AND OPPORTUNITIES
Growth expected as consumer confidence is restored
Luxury wearables continue to show potential thanks to innovations and novelty appeal
Brands within luxury mobile phones focus on innovation in order to meet the challenges that lie ahead
CATEGORY DATA
Table 73 Sales of Luxury Portable Consumer Electronics by Category: Value 2016-2021
Table 74 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2016-2021
Table 75 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2016-2020
Table 76 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2017-2020
Table 77 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2016-2021
Table 78 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2021-2026
Table 79 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2021-2026
LUXURY TIMEPIECES IN TAIWAN
KEY DATA FINDINGS
2021 DEVELOPMENTS
Affluent consumers unable to travel helps luxury timepieces to record a strong performance despite the pandemic
Men’s luxury timepieces continues to show the most dynamic growth due to style and fashion
Lack of tourism hits sales of timepieces in 2021
PROSPECTS AND OPPORTUNITIES
Positive growth expected to be seen throughout the forecast period
Women’s luxury timepieces offer more room for players to enter the competitive landscape
Unit prices to rise due to the surge in demand for limited edition watches
CATEGORY DATA
Table 80 Sales of Luxury Timepieces by Category: Value 2016-2021
Table 81 Sales of Luxury Timepieces by Category: % Value Growth 2016-2021
Table 82 NBO Company Shares of Luxury Timepieces: % Value 2016-2020
Table 83 LBN Brand Shares of Luxury Timepieces: % Value 2017-2020
Table 84 Distribution of Luxury Timepieces by Format: % Value 2016-2021
Table 85 Forecast Sales of Luxury Timepieces by Category: Value 2021-2026
Table 86 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2021-2026
LUXURY WRITING INSTRUMENTS AND STATIONERY IN TAIWAN
KEY DATA FINDINGS
2021 DEVELOPMENTS
Increasing incidence of writing as a hobby during the extra time at home helps drive sales
Luxury writing instruments continues seeing competition from digital devices and other luxury goods
No new product launches under the leading Montblanc and Cartier brands in 2021
PROSPECTS AND OPPORTUNITIES
Stable consumer base will continue to help drive consistent growth over the forecast period
In-store retailers continue to dominate as consumers like to try out the products before purchasing them
Innovation possibilities in the merging of digital devices and writing instruments
CATEGORY DATA
Table 87 Sales of Luxury Writing Instruments and Stationery: Value 2016-2021
Table 88 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2016-2021
Table 89 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2016-2020
Table 90 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2017-2020
Table 91 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2016-2021
Table 92 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2021-2026
Table 93 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2021-2026
SUPER PREMIUM BEAUTY AND PERSONAL CARE IN TAIWAN
KEY DATA FINDINGS
2021 DEVELOPMENTS
Reduced socialising continues to impact demand in product areas associated with appearance
Super premium skin care most dynamic as consumers dedicate more time to caring for their skin during the pandemic
Christian Dior remains the leading brand in 2021
PROSPECTS AND OPPORTUNITIES
Forecast period CAGR will match the review period CAGR in current value terms
E-commerce to gather pace and continued presence of pop-up stores expected
Coach expands its portfolio into super premium beauty and personal care with the Coach x Sephora collection
CATEGORY DATA
Table 94 Sales of Super Premium Beauty and Personal Care by Category: Value 2016-2021
Table 95 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2016-2021
Table 96 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2016-2020
Table 97 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2017-2020
Table 98 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2016-2021
Table 99 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2021-2026
Table 100 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2021-2026