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PUBLISHER: Euromonitor International | PRODUCT CODE: 1589410
PUBLISHER: Euromonitor International | PRODUCT CODE: 1589410
Luxury Goods in the US
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PAGES: 46 Pages
DELIVERY TIME: 1-2 business days
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Retail current value sales of luxury goods are set to continue to grow in the US in 2024. Although growth is expected to remain solid, it will be slightly slower than in 2023, impacted by both global and local factors which are leading consumers to become more cautious. Internationally, the Israel-Hamas war and the ongoing war in Ukraine, combined with local influences such as the election year, inflation, and high interest rates, have driven slightly more cautious consumer behaviour.
Euromonitor International's Luxury Goods in USA report offers a comprehensive guide to the size and shape of the Luxury Goods market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market and their effects on Luxury Goods retailing along with the development of consumers' shopping patterns. Forecasts to 2028 illustrate how the market is set to change
Product coverage: Experiential Luxury, Fine Wines/Champagne and Spirits, Personal Luxury, Premium and Luxury Cars.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
- Get a detailed picture of the Luxury Goods market;
- Pinpoint growth sectors and identify factors driving change;
- Understand the competitive environment, the market's major players and leading brands;
- Use five-year forecasts to assess how the market is predicted to develop.
Product Code: LUXUS
TABLE OF CONTENTS
List Of Contents And Tables
EXECUTIVE SUMMARY
- Luxury goods in 2024: The big picture
- 2024 key trends
- Competitive landscape
- Retailing developments
- What next for luxury goods?
MARKET DATA
- Table 1 Sales of Luxury Goods by Category: Value 2019-2024
- Table 2 Sales of Luxury Goods by Category: % Value Growth 2019-2024
- Table 3 Inbound Receipts for Luxury Goods by Country of Origin: Value 2019-2024
- Table 4 NBO Company Shares of Luxury Goods: % Value 2019-2023
- Table 5 LBN Brand Shares of Luxury Goods: % Value 2020-2023
- Table 6 Distribution of Luxury Goods by Format and Category: % Value 2024
- Table 7 Forecast Sales of Luxury Goods by Category: Value 2024-2029
- Table 8 Forecast Sales of Luxury Goods by Category: % Value Growth 2024-2029
DISCLAIMER
SOURCES
- Summary 1 Research Sources
EXPERIENTIAL LUXURY IN THE US
KEY DATA FINDINGS
2024 DEVELOPMENTS
- Holistic experiences drive growth in luxury hotels, while luxury foodservice thrives with new healthy and personalised menu options
- A successful brand evolution at the right time and place: Marriott International maintains its lead in experiential luxury
- Customers look to regenerative travel options to make an impact
PROSPECTS AND OPPORTUNITIES
- Experience is king: Customer preference for luxury, memorable experiences will boost the growth of experiential luxury over the forecast period
- Wellbeing and sustainability expected to be the focus of new luxury hotel openings
- New openings in strategic locations will bring an additional boost to experiential luxury through cultural heritage and unique adventure offerings
CATEGORY DATA
- Table 9 Sales of Experiential Luxury by Category: Value 2019-2024
- Table 10 Sales of Experiential Luxury by Category: % Value Growth 2019-2024
- Table 11 NBO Company Shares of Experiential Luxury: % Value 2019-2023
- Table 12 LBN Brand Shares of Experiential Luxury: % Value 2020-2023
- Table 13 Forecast Sales of Experiential Luxury by Category: Value 2024-2029
- Table 14 Forecast Sales of Experiential Luxury by Category: % Value Growth 2024-2029
FINE WINES/CHAMPAGNE AND SPIRITS IN THE US
KEY DATA FINDINGS
2024 DEVELOPMENTS
- Ebbing inflation and rising incomes adjust the course of fine wines/champagne and spirits
- Less but better trend tenuously sustains premiumisation
- Celebrity luxury approaches tipping point
PROSPECTS AND OPPORTUNITIES
- Growth set to continue, despite permacrisis
- The uncertain prospect of third spaces will incentivise at-home opportunities
- No/low alcohol wine and spirits still an untapped opportunity
CATEGORY DATA
- Table 15 Sales of Fine Wines/Champagne and Spirits by Category: Value 2019-2024
- Table 16 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2019-2024
- Table 17 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2019-2023
- Table 18 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2020-2023
- Table 19 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2019-2024
- Table 20 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2024-2029
- Table 21 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2024-2029
PREMIUM AND LUXURY CARS IN THE US
KEY DATA FINDINGS
2024 DEVELOPMENTS
- Growth of premium and luxury EVs slows, while Chinese component ban disrupts supply chain for luxury petrol cars
- Beyond vehicles: Premium and luxury cars as an integral part of a luxury lifestyle
- Beyond purchase: The ultimate ownership experience
PROSPECTS AND OPPORTUNITIES
- Overcoming supply chain and other challenges to achieve the zero emissions future
- Tesla's robo-car and Cybertruck: Pioneering the future amidst market hesitation
- Enhancing luxury experiences through connectivity is key to rejuvenating luxury EVs
CATEGORY DATA
- Table 22 Sales of Premium and Luxury Cars: Value 2019-2024
- Table 23 Sales of Premium and Luxury Cars: % Value Growth 2019-2024
- Table 24 NBO Company Shares of Premium and Luxury Cars: % Value 2019-2023
- Table 25 LBN Brand Shares of Premium and Luxury Cars: % Value 2020-2023
- Table 26 Forecast Sales of Premium and Luxury Cars: Value 2024-2029
- Table 27 Forecast Sales of Premium and Luxury Cars: % Value Growth 2024-2029
PERSONAL LUXURY IN THE US
KEY DATA FINDINGS
2024 DEVELOPMENTS
- 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
PROSPECTS AND OPPORTUNITIES
- 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
CATEGORY DATA
- Table 28 Sales of Personal Luxury by Category: Value 2019-2024
- Table 29 Sales of Personal Luxury by Category: % Value Growth 2019-2024
- Table 30 NBO Company Shares of Personal Luxury: % Value 2019-2023
- Table 31 LBN Brand Shares of Personal Luxury: % Value 2020-2023
- Table 32 Distribution of Personal Luxury by Format: % Value 2019-2024
- Table 33 Forecast Sales of Personal Luxury by Category: Value 2024-2029
- Table 34 Forecast Sales of Personal Luxury by Category: % Value Growth 2024-2029
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