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Demand for Luxury Goods Soars

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.

DCA Insight:

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:

  1. How can luxury goods merchants navigate the difficult distribution landscape of 2022?
  2. Will high-income consumers eventually respond to continued inflation, and if so, how can digital marketing and loyalty programs get ahead of that shift?
  3. 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.

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