Retail current value sales of luxury goods in Romania will rise by 9% in 2024, set to reach sales of RON11.4 billion.
Sustainability is a key trend across the luxury goods landscape in Romania, aligning with consumers' rising concerns surrounding climate change and actionable ways to increase sustainable living. Consequently, luxury hotel players have focused on sustainable initiatives, including waste management, water use, energy conservation, reducing plastics, and strategies such as providing QR codes in favour of printed materials.
Competition remains high on the luxury goods landscape, with brands frequently launching new products, limited-edition goods, collaborations, enhanced services and updated technology features to engage consumers.
While store-based transactions continue to account for the bulk of sales, digital is transforming the luxury retailing landscape in Romania, and e-commerce is quickly gaining ground. During the outbreak of COVID-19, luxury brands were quick to adapt to the loss of in-store footfall, offering digital options that included augmented reality and AI services, allowing consumers to ask questions and ‘try’ products before they buy, simply by uploading photos via mobile, or on a PC.
The outlook is positive for luxury goods in Romania, with many consumers having an ongoing desire to purchase high-end goods, resulting in retail value growth for all areas of the luxury goods landscape. Retail current value sales of luxury goods in Romania are projected to see a CAGR of 8% (4% constant 2024 value CAGR) over the forecast period amounting to RON16.
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Understand the latest market trends and future growth opportunities for the Luxury Goods industry in Romania with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
If you're in the Luxury Goods industry in Romania, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Luxury Goods
This is an aggregation of: Personal Luxury, Fine Wines/Champagne and Spirits, Luxury Cars and Experiential Luxury.
See All of Our DefinitionsThis report originates from Passport, our Luxury Goods research and analysis database.
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