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Luxury Goods in Turkey

Publisher Euromonitor International
Published Oct 10, 2024
Length 38 Pages
SKU # EP19248554

Description

Luxury Goods in Turkey


The luxury goods market in Turkey is projected to sustain double-digit growth in current value terms in 2024, albeit at a slower rate than the previous year. The country continues to contend with persistently high inflation and elevated interest rates, which are significantly affecting consumer spending, particularly on discretionary items. While inflation eased slightly to 52% in August 2024, down from 62% in August 2023, it remains markedly high, exerting considerable pressure on middle-class...

Euromonitor International's Luxury Goods in Turkey 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 2028 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.

Table of Contents

38 Pages
Luxury Goods in Turkey
Euromonitor International
October 2024
List Of Contents And Tables
LUXURY GOODS IN TURKEY
EXECUTIVE SUMMARY
Luxury goods in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
MARKET DATA
Table 1 Sales of Luxury Goods by Category: Value 2019-2024
Table 2 Sales of Luxury Goods by Category: % Value Growth 2019-2024
Table 3 Inbound Receipts for Luxury Goods by Country of Origin: Value 2019-2024
Table 4 NBO Company Shares of Luxury Goods: % Value 2019-2023
Table 5 LBN Brand Shares of Luxury Goods: % Value 2020-2023
Table 6 Distribution of Luxury Goods by Format and Category: % Value 2024
Table 7 Forecast Sales of Luxury Goods by Category: Value 2024-2029
Table 8 Forecast Sales of Luxury Goods by Category: % Value Growth 2024-2029
DISCLAIMER
SOURCES
Summary 1 Research Sources
EXPERIENTIAL LUXURY IN TURKEY
KEY DATA FINDINGS
2024 DEVELOPMENTS
Renewed focus on international travel is key driver of growth
Domestic and international hotel chains continue to expand within both popular and new destinations
Transformation of historical buildings into hotels provides tourists with enriching cultural experiences
PROSPECTS AND OPPORTUNITIES
Continued growth in experiential luxury, driven by ongoing hotel investment
More high-end fashion brands set to enter luxury hotel landscape
Inflationary pressures continue to pose a challenge for operators
CATEGORY DATA
Table 9 Sales of Experiential Luxury by Category: Value 2019-2024
Table 10 Sales of Experiential Luxury by Category: % Value Growth 2019-2024
Table 11 NBO Company Shares of Experiential Luxury: % Value 2019-2023
Table 12 LBN Brand Shares of Experiential Luxury: % Value 2020-2023
Table 13 Forecast Sales of Experiential Luxury by Category: Value 2024-2029
Table 14 Forecast Sales of Experiential Luxury by Category: % Value Growth 2024-2029
FINE WINES/CHAMPAGNE AND SPIRITS IN TURKEY
KEY DATA FINDINGS
2024 DEVELOPMENTS
Robust growth in 2024, despite steep price increases
Pernod Ricard Türkiye continues as leading player
PROSPECTS AND OPPORTUNITIES
Challenging times ahead for wines/champagne and spirits
Luxury Spirits will outperform fine wines
Gen Z is expected to reshape the industry
CATEGORY DATA
Table 15 Sales of Fine Wines/Champagne and Spirits by Category: Value 2019-2024
Table 16 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2019-2024
Table 17 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2019-2023
Table 18 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2020-2023
Table 19 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2019-2024
Table 20 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2024-2029
Table 21 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2024-2029
PREMIUM AND LUXURY CARS IN TURKEY
KEY DATA FINDINGS
2024 DEVELOPMENTS
Demand remains robust for luxury cars
Illegally-imported luxury cars seized at Turkish customs
Türkiye updates regulations for second-hand vehicle sales
PROSPECTS AND OPPORTUNITIES
Continued growth in Turkey’s premium and luxury car market
Rising sales of fully electric and plug-in hybrid vehicles
Ongoing competition from leasing, vintage models and new alternatives
CATEGORY DATA
Table 22 Sales of Premium and Luxury Cars: Value 2019-2024
Table 23 Sales of Premium and Luxury Cars: % Value Growth 2019-2024
Table 24 NBO Company Shares of Premium and Luxury Cars: % Value 2019-2023
Table 25 LBN Brand Shares of Premium and Luxury Cars: % Value 2020-2023
Table 26 Forecast Sales of Premium and Luxury Cars: Value 2024-2029
Table 27 Forecast Sales of Premium and Luxury Cars: % Value Growth 2024-2029
PERSONAL LUXURY IN TURKEY
KEY DATA FINDINGS
2024 DEVELOPMENTS
“Quiet luxury” emerges as notable trend in designer apparel and footwear (ready-to-wear)
Shift in eyewear purchasing habits amid economic uncertainty
Local designers gain prominence in Turkey’s luxury jewellery market
Second-hand goods pose a challenge in luxury leather market
Luxury wearables have low life expectancy, due to technological advancements
Demand for luxury timepieces remains relatively resilient
Decline in demand for luxury writing instruments and stationery
Super premium beauty and personal care benefits from Sephora’s expansion
PROSPECTS AND OPPORTUNITIES
Second-hand luxury market could pose threat to luxury brand sales
Brands will target younger generations
Physical retail will remain important
CATEGORY DATA
Table 28 Sales of Personal Luxury by Category: Value 2019-2024
Table 29 Sales of Personal Luxury by Category: % Value Growth 2019-2024
Table 30 NBO Company Shares of Personal Luxury: % Value 2019-2023
Table 31 LBN Brand Shares of Personal Luxury: % Value 2020-2023
Table 32 Distribution of Personal Luxury by Format: % Value 2019-2024
Table 33 Forecast Sales of Personal Luxury by Category: Value 2024-2029
Table 34 Forecast Sales of Personal Luxury by Category: % Value Growth 2024-2029

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