PROSPECTS AND OPPORTUNITIES
Personal luxury is poised for slow and stable growth, with various challenges ahead
The explosive growth of personal luxury in the US in 2021, fuelled by the release of pent-up demand from the pandemic, has gradually slowed since 2022, and it is expected to see continued moderate retail current value growth rates throughout the forecast period. Although personal luxury in the US has demonstrated resilience against ongoing challenges, performing better than in many other regions, it still faces obstacles to sustaining stronger growth.
Importance of responding to consumers’ sustainability demands will only grow over the forecast period
Over the forecast period, sustainability will remain a key theme in personal luxury in the US, as consumers become increasingly aware of and concerned about the effects of climate change, particularly in fashion, which has made headlines for its negative impact on the environment. Indeed, 12% of US consumers reported being influenced by sustainably produced features in apparel and personal accessories in 2024, up from 9% the year before, driven by Millennials and Gen Z (Euromonitor International’s Voice of the Consumer: Lifestyles Survey, fielded January to February 2024).
Personal luxury brands will have to provide a seamless and authentic experience both in-store and online
Over the forecast period, personal luxury players will be challenged with balancing a retail store and e-commerce presence. The importance of e-commerce has become undeniable post-pandemic, but physical stores are crucial in building emotional connections and brand loyalty, making it essential for luxury players to provide an authentic and seamless experience across both channels.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Overview:
Understand the latest market trends and future growth opportunities for the Personal Luxury industry in USA with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Personal Luxury industry in USA, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Personal Luxury in USA report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Personal Luxury in USA?
- Which are the leading brands in Personal Luxury in USA?
- How are products distributed in Personal Luxury in USA?
- How important is tourism in evaluating demand for Personal Luxury in USA?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
- Where is future growth expected to be most dynamic?
Personal Luxury in the US - Category analysis
KEY DATA FINDINGS
Designer apparel and footwear (ready-to-wear) lags behind overall personal luxury
Luxury eyewear faces a slowdown in growth amidst economic challenges
Growth in luxury jewellery outpaces that in wider personal luxury, despite looming disruption from lab-grown diamonds
Luxury leather goods faces a slowdown amidst a pullback by aspirational shoppers
Luxury wearables benefits from continued consumer investment in health and wellness
Players explore opportunities in women’s luxury timepieces amidst an overall slowdown
Luxury writing instruments and stationery challenged by more cautious consumer spending habits
Super premium beauty and personal care remains resilient despite rise of value-oriented beauty consumers
Personal luxury is poised for slow and stable growth, with various challenges ahead
Importance of responding to consumers’ sustainability demands will only grow over the forecast period
Personal luxury brands will have to provide a seamless and authentic experience both in-store and online
Luxury Goods in the US - Industry Overview
Luxury goods in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
DISCLAIMER
The following categories and subcategories are included:
Personal Luxury
-
-
- Men's Designer Apparel
- Women's Designer Apparel
- Designer Childrenswear
- Designer Clothing Accessories and Hosiery
-
- Children's Designer Footwear
- Men's Designer Footwear
- Women's Designer Footwear
-
-
- Luxury Spectacle Frames
-
- Men's Luxury Sun Glasses
- Women's Luxury Sun Glasses
-
- Luxury Costume Jewellery
-
- Men's Luxury Fine Jewellery
- Women's Luxury Fine Jewellery
-
-
- Men's Luxury Bags and Small Leather Goods
- Women's Luxury Bags and Small Leather Goods
- Luxury Travel Goods
-
- Luxury Wearables Electronics
-
- Men's Luxury Timepieces
- Women's Luxury Timepieces
- Luxury Writing Instruments and Stationery
-
- Super Premium Colour Cosmetics
- Super Premium Fragrances
- Super Premium Skin Care
- Other Super Premium Beauty and Personal Care
Personal Luxury
This is an aggregation of Designer Clothing and Footwear (Ready-to-Wear), Luxury Eyewear, Luxury Jewellery, Luxury Timepieces, Luxury Leather Goods, Luxury Writing Instruments and Stationery, Luxury Portable Consumer Electronics and Super Premium Beauty and Personal Care.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Personal Luxury research and analysis database.
NEW REPORT GUARANTEE
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!