Luxury Goods in the Philippines

LUXURY GOODS IN THE PHILIPPINES

Euromonitor International

February 2019

LIST OF CONTENTS AND TABLES

Executive Summary

Luxury Goods Remains Resilient in the Face of Unfriendly Economic Conditions

Positive 2018 Growth for Luxury Goods

Highly Fragmented, Fast-developing Industry

Internet Retailing Shoots for Fastest Growth

Positive, If Slower Growth Forecast Due To Economic Fears

Market Indicators

Table 1 Number of High Net Worth Individuals (HNWI): 2013-2018

Market Data

Table 2 Sales of Luxury Goods by Category: Value 2013-2018

Table 3 Sales of Luxury Goods by Category: % Value Growth 2013-2018

Table 4 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2018

Table 5 NBO Company Shares of Luxury Goods: % Value 2013-2017

Table 6 LBN Brand Shares of Luxury Goods: % Value 2014-2017

Table 7 Distribution of Luxury Goods by Format and Category: % Value 2018

Table 8 Forecast Sales of Luxury Goods by Category: Value 2018-2023

Table 9 Forecast Sales of Luxury Goods by Category: % Value Growth 2018-2023

Sources

Summary 1 Research Sources

Headlines

Prospects

Tourism Boosts Luxury Hotels As Prices Remain Competitive and Amenities Expand

Middle-income Families Prefer Luxury Hotels for Celebrations and Stays

New Luxury Hotels Set To Open in the Philippines As Demand Soars

Competitive Landscape

Shang Properties Enjoys Wide Coverage and Prestige in the Country

Strategic Locations Remain A Key Success Factor

Quality Foodservice Offers Players A Competitive Advantage

Category Data

Table 10 Sales in Luxury Hotels: Value 2013-2018

Table 11 Sales in Luxury Hotels: % Value Growth 2013-2018

Table 12 Sales in Luxury Hotels by Country of Origin: % Value 2013-2017

Table 13 NBO Company Shares in Luxury Hotels: % Value 2013-2017

Table 14 LBN Brand Shares in Luxury Hotels: % Value 2014-2017

Table 15 Forecast Sales in Luxury Hotels: Value 2018-2023

Table 16 Forecast Sales in Luxury Hotels: % Value Growth 2018-2023

Headlines

Prospects

Young Professionals Seek Goods That Show Off Their Wealth and Social Status

Companies' Strategies Target Millennials

Bars and Clubs in Key Cities Secure Exposure for Luxury Brands

Competitive Landscape

Moët Hennessy Philippines Drives the Category

Players Set To Continue Their Focus on Young Professionals

Social Media Is Increasingly Utilised As A Marketing and Promotional Tool

Category Data

Table 17 Sales of Fine Wines/Champagne and Spirits by Category: Value 2013-2018

Table 18 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2013-2018

Table 19 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2013-2017

Table 20 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2014-2017

Table 21 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2013-2018

Table 22 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2018-2023

Table 23 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2018-2023

Headlines

Prospects

Tax Reform Lowers the Cost of Luxury Cars

Luxury Hybrids and More Luxury Brands Enter in 2018

Government Takes Strong Stance Against Smuggling

Competitive Landscape

Mercedes-benz Attracts A Wide Range of Consumers

Players Set To Exploit Lower Taxes

Category Data

Table 24 Sales of Luxury Cars: Value 2013-2018

Table 25 Sales of Luxury Cars: % Value Growth 2013-2018

Table 26 NBO Company Shares of Luxury Cars: % Value 2013-2017

Table 27 LBN Brand Shares of Luxury Cars: % Value 2014-2017

Table 28 Forecast Sales of Luxury Cars: Value 2018-2023

Table 29 Forecast Sales of Luxury Cars: % Value Growth 2018-2023

Headlines

Prospects

Brand Loyalty Blurs As Consumers Seek Better Quality Goods

High-tech Features in Strong Demand

Millennials Represent A Key Target Audience in Personal Luxury

Competitive Landscape

LVMH Moët Hennessy Louis Vuitton Leads Personal Luxury

Widening Distribution Challenges Brand Loyalty

Category Data

Table 30 Sales of Personal Luxury by Category: Value 2013-2018

Table 31 Sales of Personal Luxury by Category: % Value Growth 2013-2018

Table 32 NBO Company Shares of Personal Luxury: % Value 2013-2017

Table 33 LBN Brand Shares of Personal Luxury: % Value 2014-2017

Table 34 Forecast Sales of Personal Luxury by Category: Value 2018-2023

Table 35 Forecast Sales of Personal Luxury by Category: % Value Growth 2018-2023

Headlines

Prospects

Passion for Travel Boosts Designer Apparel and Footwear (ready-to-wear)

Luxury Retailing Districts Expose Consumers To More Global Brands

Multibrand Stores Facilitate the Entry of Designer Brands

Competitive Landscape

Heavily Fragmented Landscape Shows Desire To Purchase Rare Items

Move Towards More Select Retailing and Online Shopping

Further Attention To the Needs of Outbound Travellers

Category Data

Table 36 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2013-2018

Table 37 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2013-2018

Table 38 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2013-2017

Table 39 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2014-2017

Table 40 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2013-2018

Table 41 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2018-2023

Table 42 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2018-2023

Headlines

Prospects

Tight Competition Between Brands and Retail Stores

Millennials Emerge As Key Consumers

Luxury Spectacle Frames Sees the Highest Value Growth in 2018

Competitive Landscape

Millennials and Affluent Consumers Vie for Luxottica Group's Vast Portfolio

Luxury Eyewear Players Target Better Off Consumers

Companies Turn To Local Brand Ambassadors in Marketing Strategies

Category Data

Table 43 Sales of Luxury Eyewear by Category: Value 2013-2018

Table 44 Sales of Luxury Eyewear by Category: % Value Growth 2013-2018

Table 45 NBO Company Shares of Luxury Eyewear: % Value 2013-2017

Table 46 LBN Brand Shares of Luxury Eyewear: % Value 2014-2017

Table 47 Distribution of Luxury Eyewear by Format: % Value 2013-2018

Table 48 Forecast Sales of Luxury Eyewear by Category: Value 2018-2023

Table 49 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2018-2023

Headlines

Prospects

Social Awareness Informs Choice of Luxury Jewellery

Gender Reveal Parties Create New Sales Opportunities

Lack of Regard for Luxury Jewellery As An Investment Hampers Growth

Competitive Landscape

Tiffany & Co Banks on Its Prestige and Heritage

Ongoing Move Towards Less Ostentatious Jewellery

Players Set To Push Investment Perception of Luxury Jewellery

Category Data

Table 50 Sales of Luxury Jewellery by Category: Value 2013-2018

Table 51 Sales of Luxury Jewellery by Category: % Value Growth 2013-2018

Table 52 NBO Company Shares of Luxury Jewellery: % Value 2013-2017

Table 53 LBN Brand Shares of Luxury Jewellery: % Value 2014-2017

Table 54 Distribution of Luxury Jewellery by Format: % Value 2013-2018

Table 55 Forecast Sales of Luxury Jewellery by Category: Value 2018-2023

Table 56 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2018-2023

Headlines

Prospects

Brands Bank on Exclusivity and Customisation

Stores Within Luxury Hotels Add Dynamism To Luxury Leather Goods

Travel Spurs Growth for Luxury Leather Goods

Competitive Landscape

Coach Bounces Back With Wider Store Coverage

Players Tap Into Strategic Locations

Travel Culture Offers Growth Opportunities for Manufacturers

Category Data

Table 57 Sales of Luxury Leather Goods: Value 2013-2018

Table 58 Sales of Luxury Leather Goods: % Value Growth 2013-2018

Table 59 NBO Company Shares of Luxury Leather Goods: % Value 2013-2017

Table 60 LBN Brand Shares of Luxury Leather Goods: % Value 2014-2017

Table 61 Distribution of Luxury Leather Goods by Format: % Value 2013-2018

Table 62 Forecast Sales of Luxury Leather Goods: Value 2018-2023

Table 63 Forecast Sales of Luxury Leather Goods: % Value Growth 2018-2023

Headlines

Prospects

Luxury Mobile Phones Declines As Non-luxury Brands Dominate

More Luxury Wearables Anticipated in the Forecast Period

Competitive Landscape

Porsche Design Leads But LVMH Moët Hennessy Louis Vuitton Drives Growth

Players Seek Ways To Stay Relevant and Stimulate Growth

Category Data

Table 64 Sales of Luxury Portable Consumer Electronics by Category: Value 2013-2018

Table 65 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2013-2018

Table 66 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2013-2017

Table 67 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2014-2017

Table 68 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2013-2018

Table 69 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2018-2023

Table 70 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2018-2023

Headlines

Prospects

Younger Consumers Look for Vintage Pieces

Players Engage Consumers To Promote Their Brands

Competitive Landscape

Entry-level Players Tap Into New Consumer Audiences

Companies To Focus on Breaking Barriers With Consumers

Category Data

Table 71 Sales of Luxury Timepieces by Category: Value 2013-2018

Table 72 Sales of Luxury Timepieces by Category: % Value Growth 2013-2018

Table 73 NBO Company Shares of Luxury Timepieces: % Value 2013-2017

Table 74 LBN Brand Shares of Luxury Timepieces: % Value 2014-2017

Table 75 Distribution of Luxury Timepieces by Format: % Value 2013-2018

Table 76 Forecast Sales of Luxury Timepieces by Category: Value 2018-2023

Table 77 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2018-2023

Headlines

Prospects

Leading Players Launch New Limited Collections in 2018

Brand Ambassadors Reach Out To the Local Consumer Base

Competitive Landscape

Partnerships With Online Retailers Offer Expansion Opportunities for Brands

Players Appeal To Different Consumer Groups

Category Data

Table 78 Sales of Luxury Writing Instruments and Stationery: Value 2013-2018

Table 79 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2013-2018

Table 80 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2013-2017

Table 81 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2014-2017

Table 82 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2013-2018

Table 83 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2018-2023

Table 84 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2018-2023

Headlines

Prospects

Discounted Mall Prices Slow Value Sales of Super Premium Fragrances

High-quality Skin Care Appeals To Image-conscious Consumers

Fast-developing Internet Retailing Expands Distribution Reach

Competitive Landscape

Super Premium Beauty and Personal Care Remains Highly Fragmented

Marketing and Limited Collections Point the Way for Super Premium Fragrances

Competition for New Consumers and Brand Loyalty

Category Data

Table 85 Sales of Super Premium Beauty and Personal Care by Category: Value 2013-2018

Table 86 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2013-2018

Table 87 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2013-2017

Table 88 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2014-2017

Table 89 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2013-2018

Table 90 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2018-2023

Table 91 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2018-2023