The Swedish krona continued to weaken through 2023, and the country’s GDP shrank more than expected, fuelling recession risks. Sweden’s economy was seen as one of the EU’s weakest in 2023.
In 2023, luxury goods performed strongly even though there were headwinds caused by the cost of crisis, the war in Ukraine, supply chain issues and high inflation. Around 275,200 affluent consumers resided in Sweden in 2023, accounting for a 3% share of the adult population.
Luxury goods remains highly competitive. With people making more mindful consumption choices, luxury players are putting value creation at the forefront of innovation, in order to ensure that the products and services they sell are attractive to consumers.
Digitalisation is reshaping the luxury retail landscape, influencing consumer shopping patterns and transforming how they engage with luxury brands and retailers. This is leading to a rise in the importance of online shopping amongst some consumers, whilst forcing retailers to rethink the role of physical outlets.
Luxury goods’ outlook is bright, with a desire to spend on services and goods set to lead to consumers increasingly buying high-end luxury goods during the forecast period. Retail sales of luxury goods in Sweden are predicted to increase at a CAGR of 6% in current value terms (4% 2023 constant value CAGR) over the forecast period to total SEK104.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Luxury Goods industry in Sweden 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 Sweden, 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.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!