In the US and China, the luxury goods sector has repeatedly bounced back from pandemic-related declines, thanks to resilient consumer demand and savvy digital strategies. But current economic headwinds will cause luxury buying to decline among the middle class. Brands will have to double down on keeping their wealthier and higher-spending clientele engaged across channels.
3 KEY QUESTIONS THIS REPORT WILL ANSWER
WHAT’S IN THIS REPORT? Our inaugural US and China forecasts for personal luxury goods through 2026, plus an analysis of digital engagement strategies driving growth in luxury ecommerce.
KEY STAT: US personal luxury retail sales will reach nearly $110 billion in 2022, with ecommerce accounting for 22.7% of the total, a slightly higher share than China’s 21.5% of $78.23 billion.
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