Demand for Luxury Goods Soars
Name-brand handbags and jewelry are selling fast. Many lux brands have more than doubled their sales in the U.S. since the pandemic began.
Wealthy consumers are of course more immune to challenges facing most shoppers. Walmart reports consumers have pared back on buying clothes, and Amazon has indicated a recent e-commerce slow down. Look for the dichotomy to continue in our new-normal marketplace.
Open Questions for Leaders:
- How can luxury goods merchants navigate the difficult distribution landscape of 2022?
- Will high-income consumers eventually respond to continued inflation, and if so, how can digital marketing and loyalty programs get ahead of that shift?
- 2021 saw a Holiday spending season that mirrored 2019. What will the 2022 shopping season look like?
Related DCA Resource:
Commerce Code Ep. 91: Loyalty Programs & The 2021 Holiday Shopper – On this episode of Commerce Code, we dig deeper into the 2021 holiday luxury shopper and the performance of loyalty programs paired with luxury products with James Berry, Commercial Director, Valuedynamx.