KPMG: Value of Polish luxury goods market set to increase to PLN 39 bn by 2023

The value of the luxury goods market in Poland increased to approximately PLN 23.9 billion in 2018, according to the latest edition of the KPMG report in Poland entitled “Luxury goods market in Poland.”

Forecasts for the following years are also optimistic: according to estimates by KPMG, by 2023 the luxury goods market in Poland may reach a value exceeding PLN 39 billion.

The luxury goods market in Poland is dominated by premium and luxury cars, which accounted for 13.5 percent of the registration of all passenger cars in the first three quarters of this year. The value of this segment this year is estimated at PLN 15.5 billion. The second largest segment is luxury clothing and accessories, which is estimated at nearly PLN 2.9 billion, an increase of 7.2 percent compared to 2017.

In 2017, the number of high-earning Poles increased by 157,000 (up 15 percent y/y), and last year there were nearly 1.2 million high-earning people, i.e. those earning a monthly income over PLN 7,100 gross.

 

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