In 2021, the entire luxury goods market in Poland reached a value of nearly PLN 30 billion. This is more than before the pandemic. The target group of the market are rich or very rich people, the number of which in the study is based on the data of the Ministry of Finance and the Credit Suisse report “Global Wealth Databook 2021
Very wealthy people are those with a net worth of at least $ 1 million. In 2019, their number was estimated at approx. 116 thousand, in 2020, the same Credit Suisse report mentioned approx. 150 thousand. and gave a forecast that by 2025 there will be about 250-300 thousand. Rich people, i.e. with gross earnings in excess of 50,000 PLN per month, in 2020 it was 77 thousand, i.e. by 11.6 percent. more than a year earlier.
At the end of 2021, the sum of assets accumulated by households in Poland amounted to PLN 2 802 billion. This is an increase of 9 percent. compared to 2020. The value of liabilities amounted to PLN 860 billion, by 5 percent. more than a year ago.
Households in Poland are the most likely to keep funds in the form of deposits. In this form, at the end of 2021, more than 38 percent of the items were stored. assets, i.e. PLN 1 073 billion. Their condition, although still dominant, only increased by 7%. yy. Investments were the second largest category. The value of household funds invested in the form of investments after an increase by 9% yoy amounted to PLN 758 billion. The value of cash amounted to PLN 334 billion (+11% y / y) and was overtaken by assets accumulated in insurance (PLN 348 billion, +16% y / y) – the report reads.
In 2021, the sales value of all segments increased. The entire luxury goods market in Poland grew by 21.9 percent. compared to 2020 and reached the value of PLN 29.8 billion.
“The luxury industry is slowly recovering to pre-pandemic levels. So far, only the premium and luxury car segment has exceeded the level of 2019. In addition to the automotive industry, the alcohol segment is doing the best, which will probably reach the value of sales from before the market collapse in 2022. The segment of luxury hotels and SPAs, which experienced the most severe restrictions at the peak of the pandemic, is in a much worse situation, ”commented Tomasz Wiśniewski, head of the KPMG valuation team in Poland and Central and Eastern Europe in Poland.