The US luxury retail landscape report

This article examines the luxury consumer landscape in the US, identifying five segments of consumers who have distinct approaches to luxury consumption and recommends ways to build relationships with each.
  • The US luxury market is moving into the mainstream and 2014 spending on luxury goods was higher than Japan, Italy, France and China combined.
  • Those who buy luxury goods are split into three categories: 'new luxury', who value image, status and quality, 'established luxury', who value quality and prefer subtle status cues, and 'keeping up with the Jones', who are more interested in the status that owning luxury goods confers.
  • Additionally there are two segments, younger and older 'aspirationals', who value luxury goods but are not likely to purchase them - lower-priced offerings and partnerships with mass merchandisers...

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