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The top product category for US luxury buyers is footwear, followed by handbags and leather goods, cosmetics and beauty products, and fragrance. Less than one-third of these shoppers bought accessories such as eyewear, jewelry, and watches in the past year.
Beyond the chart: Personal luxury sales will reach $109.25 billion in the US this year, per our forecast. More than one-fifth of those sales will come from ecommerce.
We expect inflation will have less impact on the core luxury shopper than on the average US consumer. As a result, the luxury category will be resilient, growing more than 13% in 2022, compared with about 6% growth for retail overall.
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Methodology: Data is from the June 2022 "The Insider Intelligence Luxury Goods Flash Survey" conducted by Bizrate Insights. 1,014 US adults ages 18+ were surveyed online during June 8-27, 2022. Respondents identified as female (77%) and male (23%) and were ages 18-34 (9%), 35-54 (43%), and 55+ (48%). Respondents were members of Bizrate Rewards, the Bizrate Consumer Panel operated by Bizrate Insights, which is comprised of over 2 million panelists who provide feedback based on their experiences and opinions. The Bizrate Rewards panel is comprised of a broad demographic profile which represents a sampling of all ages, education levels, genders, and incomes. At the time of joining the panel, each panelist stated they had shopped online. In exchange for providing feedback, panelists have the opportunity to earn points, which can be exchanged for electronic gift cards. This survey, provided by Bizrate Insights on behalf of Insider Intelligence, provides a monthly consumer pulse of digital shopping behavior and intent.
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