1、2 0 1 9 K P M G . P L The luxury goods market in Poland Luxury across generations 2020 KPMG Sp. z o.o., a Polish limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), aSwiss entity. All right

2、s reserved. 3 C C Contents T H E L U X U R Y G O O D S M A R K E T I N P O L A N D C A R S . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 5 C L O T H I N G A N D A C C E S S O R I E S . . . . . . . . . 2 8 R E A L E S T A T E . . . . . . . . . . . . . . . . . 3 4 H O T E L A N D S P A S E R

3、 V I C E S . . . . . . . . . . . . . . . . . . . . . 3 6 A L C O H O L S . . . . . . . . . . . . . . . . . . . . 4 0 P E R F U M E A N D C O S M E T I C S . 4 3 J E W E L L E R Y . . . . . . . . . . . . . . . . . . . 4 8 W A T C H E S . . . . . . . . . . . . . . . . . . . . . 5 0 A I R C R A F T . .

4、 . . . . . . . . . . . . . . . . . . . 5 4 Y A C H T S . . . . . . . . . . . . . . . . . . . . . . . . 5 6 21 L U X U R Y A C R O S S G E N E R A T I O N S P U R C H A S E S O F L U X U R Y G O O D S I N P O L A N D . . . . . . . . . . . 6 2 P E R C E P T I O N O F L U X U R Y I N P O L A N D . . .

5、. . . . . . . . . . . . . . . . . . 6 8 A T T R I B U T E S O F L U X U R Y G O O D S . . . . . . . . . 7 0 U S A G E O F L U X U R Y S E R V I C E S . . . . . . . 7 2 N E W M E D I A . . . . . . . . . . . . . . . . . . . . . 7 4 P E R C E P T I O N O F W E A L T H A N D O F R I C H P O L E S . . .

6、. . . . . . . 7 6 L U X U R Y I N P O L I S H F A M I L I E S . . . . . . . 8 5 D E M O G R A P H I C D A T A . . . . . . . . . 8 6 59 INTRODUCTION 5 K E Y F I N D I N G S 9 L U X U R Y G O O D S B U Y E R S I N P O L A N D A N D T H E I R F I N A N C I A L S I T U A T I O N A F F L U E N T P O L E

7、S I N FA C T S A N D F I G U R E S . . 1 3 W E A L T H H E L D B Y P O L E S . . . . . . . . . . . . . . . . 2 0 11 2020 KPMG Sp. z o.o., a Polish limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG Interna

8、tional”), aSwiss entity. All rights reserved. 2020 KPMG Sp. z o.o., a Polish limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), aSwiss entity. All rights reserved. II Introduction It is wi

9、th great pleasure that we present the tenth edition of the KPMG report on the luxury goods market in Poland, marking a jubilee of this publication. We are pleased to have been able to observe the Polish luxury goods market and the changing perceptions of luxury by Poles for a decade. To highlight th

10、is round anniversary, we decided to conduct a survey to explore how luxury is perceived by three generations of Poles: Millennials, Generation X and Baby Boomers. Additionally, we have attempted to analyse how the perception of luxury in Poland has changed over the last decade, comparing the respond

11、ents answers with previous editions of our report. 2020 KPMG Sp. z o.o., a Polish limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), aSwiss entity. All rights reserved. 2020 KPMG Sp. z o.o

12、., a Polish limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), aSwiss entity. All rights reserved. 7 We b e l i eve th at o u r re p o r t w i l l p rov i d e yo u w i th m a ny va l u a b

13、 l e i n s i g hts a n d i n s p i re f u r th e r resea rc h . A n d o n th e o c c a s i o n of th e te nth a n n i ve rsa r y of o u r l u x u r y g o o d s m a rket re p o r t , we wo u l d l i ke to w i s h yo u , a n d o u rse l ves, te n f u r th e r e d i ti o n s a n d a to u c h of l u x u

14、 r y i n eve r yd ay l i fe. AA A N D R Z E J M A R C Z A K Pa rtne r, KP M G i n P ol a nd T O M A S Z W I N I E W S K I Pa rtne r, KP M G i n P ol a nd As in previous years, we continue to observe an increasing number of wealthy people, earning over PLN 7.1thousand gross per month. Thanks to a str

15、ong economy and dynamically rising salaries, this number exceeded 1.4 million in 2018. Interestingly, out of all groups of high earners, the fastest growth was recorded among taxpayers earning over PLN1million gross per year. As Poles grow more wealthy, the luxury goods market expands: according to

16、our estimates, it will be worth over PLN 25 billion this year. Premium and luxury cars continue to be the largest segment. Worth noting is the category of hotel and spa services, with a value potentially rising by as much as 11.7% y/y. 2020 KPMG Sp. z o.o., a Polish limited liability company and a m

17、ember firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), aSwiss entity. All rights reserved. LL Luxury goods are defined as any goods (including services) bearing a brand commonly considered to be luxurious on a particular mark

18、et, or ones that acquire a luxury character given their specific characteristics (uniqueness, high price). H I G H - E A R N I N G / A F F L U E N T I N D I V I D U A L S earning a gross monthly income over PLN 7.1 thousand R I C H I N D I V I D U A L S earning a gross monthly income over PLN 20 tho

19、usand V E R Y R I C H I N D I V I D U A L S earning a gross monthly income over PLN 50 thousand $ $ $ $ $ $ M I L L E N N I A L S people aged 1835 G E N E R A T I O N X people aged 3650 B A B Y B O O M E R S people aged 51+ 2020 KPMG Sp. z o.o., a Polish limited liability company and a member firm o

20、f the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), aSwiss entity. All rights reserved. 9 3 Key findings 1 In 2018, the number of affluent Poles exceeded 1.4 million people, which is approx. 235thousand more than in the previous year.

21、 According to our estimates, there may be as many as 2 million people in Poland earning over PLN 7.1 thousand gross a month in 2022. 2 In 2018, Poland had more than 32 thousand people earning above PLN 1 million gross per year, most of them in the following voivodships: Mazowieckie, Wielkopolskie an

22、d Maopolskie. This is also the fastest growing group (+38.4% y/y). 4 The total value of the luxury goods market in Poland in 2019 will amount to approx. PLN25billion. In comparison with the previous year, this marks an increase by 5.4%. The number of rich Poles in 2018 exceeded 234 thousand, of whic

23、h nearly 67 thousand were very rich. Most people from the former group lived in the Mazowieckie, lskie and Wielkopolskie voivodships, while the latter group mostly inhabited the Mazowieckie, Maopolskie and Wielkopolskie voivodships. 5 As in previous years, luxury and premium cars continue to be the

24、largest segment, accounting for nearly two thirds of the total market. This year, the value of this segment may reach PLN 16.3 billion, which means an increase by 7.7% compared to 2018. 2020 KPMG Sp. z o.o., a Polish limited liability company and a member firm of the KPMG network of independent memb

25、er firms affiliated with KPMG International Cooperative (“KPMG International”), aSwiss entity. All rights reserved. 10 6 Hotel and spa services are among the fastest growing segments of the luxury goods market. By 2024, this segment may increase by as much as 58%, reaching a value of PLN 2.2 billion

26、. 7 Two thirds of those surveyed with a monthly income in excess of PLN20thousand gross stated that they spend more than 11% of their annual income on luxury goods on average. 8 The youngest consumers purchase luxury goods much more often than people aged 51+. Buyers aged 1835 are more likely than o

27、ther groups to choose luxury clothes and footwear. 9 Unlike Generation X and Baby Boomers, Millennials purchase luxury goods mainly over the Internet. They are more likely to follow their favourite brands in social media such as Facebook, YouTube or Instagram. Poles perceive luxury primarily in the

28、light of brand prestige; they also attach importance to the quality and appearance of products. 2020 KPMG Sp. z o.o., a Polish limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), aSwiss ent

29、ity. All rights reserved. LL Luxury goods buyers in Poland and their financial situation A good economic situation, low unemployment rate as well as dynamically rising salaries and wages translate into a growing number of affluent people. In 2018, the number of taxpayers earning over PLN 7.1 thousan

30、d gross per month increased by 235 thousand, i.e. up by as much as 19.6% compared to the previous year. There has been also an increase in the number of rich people, with a gross monthly income above PLN 20 thousand, and very rich Poles, earning above PLN 50 thousand gross per month. 2020 KPMG Sp. z

31、 o.o., a Polish limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), aSwiss entity. All rights reserved. 2020 KPMG Sp. z o.o., a Polish limited liability company and a member firm of the KPM

32、G network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), aSwiss entity. All rights reserved. 13 The following definitions were introduced in this report:* H I G H - E A R N I N G / A F F L U E N T I N D I V I D U A L S earning a gross monthly incom

33、e over PLN 7.1 thousand* R I C H I N D I V I D U A L S earning a gross monthly income over PLN 20 thousand V E R Y R I C H I N D I V I D U A L S earning a gross monthly income over PLN 50 thousand * The terms affluent;, rich and very rich refer only to the monthly gross income earned and are not equ

34、ivalent to the total wealth and assets owned by people classified in these categories. * For the needs of this report, it was assumed that the affluence threshold is set at the level of annual taxable income falling into the second tax bracket in Poland (currently from PLN 85,528 per annum, pre-tax)

35、. Th e tota l g ross i n c o m e ea rn e d by aff l ue nt P o l es i n 20 18 a m o u nte d to P L N 3 19 b i l l i o n , a n d th e i r n u m b e r rea c h e d 1 ,4 34 th o u sa n d , of w h i c h 1 ,0 39 th o u sa n d we re p ay i n g th e i r ta xes o n th e b a s i s of th e p ro g ress i ve ta x

36、 sc a l e, w h i l e 39 5 th o u sa n d we re p ay i n g a 19 % f l at- rate ta x . Ac c o rd i n g to o u r esti m ates, th e tota l n u m b e r of aff l u e nt P o l es i n 20 19 w i l l a m o u nt to 1 ,5 81 th o u sa n d a n d th e i r tota l i n c o m e w i l l i n c rea se by 1 2.6% to P L N 3

37、 59. 2 b i l l i o n i n c o m p a ri so n w i th 20 18. We esti m ate th at th e nu m b e r of aff l u e nt P o l es w i l l i n c rea se s i g n i f i c a ntl y a l so i n th e f u tu re : i n 20 22, th i s g ro u p m i g ht rea c h 2 m i l l i o n p e o p l e, a n d th e i r tota l i n c o m e w

38、i l l h i t th e m a rk of P L N 51 2.8 b i l l i o n . 2012 554 60 2 658 71 0 753 8 60 1 ,039 1 ,14 6 1 , 24 0 1 ,342 1 ,449 214 230 252 277 289 339 4 35 471 51 0 200019 p2020 p2021 p2022 p Taxpayers earning over PLN 7.1 thousand gross per month, paying a flat-rate tax at 19%

39、Taxpayers paying a progressive tax (falling into the so-called “second tax bracket” of 32%) N U M B E R O F A F F L U E N T P E O P L E I N P O L A N D ( I N T H O U S A N D , P P R O J E C T E D ) Source: KPMG in Poland based on Polish Ministry of Finance data A A Affluent Poles in facts and figure

40、s PLN 512.8 billion 551 PLN 319 billion 39 5 Total gross income 2020 KPMG Sp. z o.o., a Polish limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), aSwiss entity. All rights reserved. T T A

41、N I N C R E A S E I N T H E N U M B E R O F A F F L U E N T P O L E S I N 2 0 0 9 2 0 1 8 856 thousand The key factors for the luxury goods market include the number and the income of rich individuals, with a monthly income exceeding PLN 20 thousand gross, and those who are very rich, earning above

42、PLN 50 thousand gross a month. Last year, the former group included 234.4 thousand taxpayers (up by 20.6% y/y), and the latter group consisted of 66.7 thousand people (up by 33.5% y/y). Their total gross income amounted to PLN155.6billion and PLN93.7billion respectively. Following the introduction o

43、f the so-called “solidarity levy” as of 1 January 2019, we started to present data for people earning over PLN1million gross per year, starting from the previous edition of our report. According to the Ministry of Finance data, there were 32.1 thousand such people in Poland in 2018 and their total i

44、ncome amounted to PLN 68.8 billion. The vast majority of taxpayers from this group (94%) were paying the 19% flat-rate tax. The number of people with an annual income above PLN1million gross increased by the largest percentage versus all other groups described in this report (by38.4%y/y). As in prev

45、ious years, by far the largest number of affluent Poles live in the Mazowieckie voivodship since Warsaw remains the heart of the countrys business, cultural and administrative life. In total, there were 393 thousand affluent people (27.4% of the total), 64.7thousand rich people (27.6%) and 15.5 thou

46、sand very rich people (23.2%) living in Mazowieckie in 2018. That voivodship also had the largest number of Poles (7thousand) with an annual income above PLN1 million gross. Interestingly, the share of the richest residents of Mazowieckie in the total population dropped from 25.4% to 21.8% compared

47、to the previous year. A N I N C R E A S E I N T H E T O T A L G R O S S I N C O M E O F A F F L U E N T P O L E S I N 2 0 0 9 2 0 1 8 PLN 190.5 billion Other regions with the highest number of affluent individuals include: lskie (157.2thousand people), Dolnolskie (131.6thousand) and Maopolskie (127.

48、5thousand). On the other hand, the highest increases in the number of people earning more than PLN 7.1 thousand gross per month was recorded in Mazowieckie (+52 thousand), lskie (+32.2thousand) and Dolnolskie (+23.6 thousand). 2020 KPMG Sp. z o.o., a Polish limited liability company and a member fir

49、m of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), aSwiss entity. All rights reserved. 15 T H E N U M B E R O F R I C H P E O P L E with a monthly gross income over 20 thousand and their total gross income by voivodship (2018) 8 7 , 2 1 1 3 9 3 M A Z O W I E C K I E 2 6 , 2 4 3 1 3 2 D O L N