Table of Content

Luxury Goods in Mexico
Euromonitor International
December 2021

List Of Contents And Tables

LUXURY GOODS IN MEXICO
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 MEXICO
KEY DATA FINDINGS
2021 DEVELOPMENTS
Lack of inbound tourism places onus on domestic consumers
Restrictions limit potential for recovery
Some movement in inbound tourism
PROSPECTS AND OPPORTUNITIES
Gradual recovery
Luxury hotels will need to innovate in response to the COVID-19 crisis
Strong emphasis on sanitation
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 MEXICO
KEY DATA FINDINGS
2021 DEVELOPMENTS
Return to growth but not full recovery
Domestic consumers drive growth
Lack of inbound tourism and business travel keep sales down
PROSPECTS AND OPPORTUNITIES
Drawn out revival of inbound tourism
Need to convince consumers of effectiveness of hygiene procedures and protocols
Shift in business practices to limit potential recovery
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 MEXICO
KEY DATA FINDINGS
2021 DEVELOPMENTS
Fine wines/champagne and spirits recovers in 2021, though growth is relatively slow
Strong rise in e-commerce sales
Manufacturers maintain commitment to new releases in 2021
PROSPECTS AND OPPORTUNITIES
Positive outlook for fine wines/champagne and spirits
Consumer foodservice restrictions and consumer caution to boost off-trade sales
Focus on special editions
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 MEXICO
KEY DATA FINDINGS
2021 DEVELOPMENTS
Upturn in performance in 2021
Economic uncertainty continues to dampen demand
Super premium sports brands prove relatively resilient
PROSPECTS AND OPPORTUNITIES
Premium and luxury cars set to stand out in car industry recovery
Further development of electric vehicles
Continuing emphasis on digital activity
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 MEXICO
KEY DATA FINDINGS
2021 DEVELOPMENTS
Seasonal planning impacted by crisis
Discounting poses problems for luxury brands’ positioning
Crisis drives shift in attitudes to e-commerce
PROSPECTS AND OPPORTUNITIES
Healthy outlook, though super premium skin care set to see growth slow
Increasing commitment to digital development
COVID-19 crisis to have lasting impact on attitudes and behaviours
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 MEXICO
KEY DATA FINDINGS
2021 DEVELOPMENTS
E-commerce establishes strong presence in designer apparel and footwear (ready-to-wear)
Mixed retailers and brand-owned boutiques remain key channels
Emergence of omnichannel strategies
PROSPECTS AND OPPORTUNITIES
Brick-and-mortar stores to remain key, but lines between physical and digital blurring
COVID-19 crisis to have lasting influence on work practices and clothing
Balancing sanitation and consumers’ desire to try on products
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 MEXICO
KEY DATA FINDINGS
2021 DEVELOPMENTS
Physical stores facing struggle to lure consumers back
Some recovery in luxury sun glasses
Consumers favour retailers displaying strict hygiene protocols
PROSPECTS AND OPPORTUNITIES
Slow recovery of inbound tourism and domestic consumer budget-consciousness potential constraints
Further development of e-commerce
Continued focus on fashion
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 MEXICO
KEY DATA FINDINGS
2021 DEVELOPMENTS
E-commerce sees high sales of less expensive products
Manufacturers and retailers display growing commitment to digitalisation
Stagnation in prices
PROSPECTS AND OPPORTUNITIES
Recovery ahead
Retailers’ personal approach resonates with hygiene concerns and demand for exclusivity
Evolving ways of enhancing the shopping experience
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 MEXICO
KEY DATA FINDINGS
2021 DEVELOPMENTS
Customer experience remains key element in purchasing luxury leather goods
Constraints on recovery
Slow recovery of social situations limits demand for status symbols
PROSPECTS AND OPPORTUNITIES
Younger men and domestic consumers to drive growth early in forecast period
Ongoing digitalisation and development of omnichannel strategies
Recreating exclusive, personalised customer experiences in the digital arena
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 MEXICO
KEY DATA FINDINGS
2021 DEVELOPMENTS
COVID-19 crisis enhances consumers’ digital engagement
COVID-19 sharpens focus on fitness
E-commerce gains
PROSPECTS AND OPPORTUNITIES
Luxury wearables to remain key driver
Growing focus on wearables targeting health and fitness trend
Increasingly segmented offer
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 MEXICO
KEY DATA FINDINGS
2021 DEVELOPMENTS
Consumers prefer to experience products first-hand before purchase
Focus on developing personalisation across both the physical and digital experience
Launch events go digital
PROSPECTS AND OPPORTUNITIES
Recovery driven by return to physical stores, increasing confidence, and revival of social occasions
New launches and limited editions to remain important
Ongoing role for digital activity
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 MEXICO
KEY DATA FINDINGS
2021 DEVELOPMENTS
Luxury writing instruments products often given as gifts
Brands focus on developing and enhancing digital presence
Continued boost from seasonal gift giving
PROSPECTS AND OPPORTUNITIES
Recovery, but category to remain niche
Less affluent consumers to delay purchases because of economic impact of COVID-19 crisis
Changes in business practices may undermine demand for status symbols
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 MEXICO
KEY DATA FINDINGS
2021 DEVELOPMENTS
Store closures hit sales hard
Shift towards more natural look
Skin care’s association with health and wellness provides resilience
PROSPECTS AND OPPORTUNITIES
Positive outlook for forecast period
Return to socialising to support recovery of colour cosmetics
Further development of super premium fragrances brands’ use of digital channels
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