Footwear is the most popular product category among US luxury purchasers, followed by handbags and leather goods, cosmetics and beauty products, and perfume.
According to an Insider Intelligence/eMarketer survey, less than one-third of customers purchased accessories such as eyewear, jewelry, and watches in the previous year.
According to Insider Intelligence/eMarketer, personal luxury sales in the United States will exceed $109.25 billion this year. Ecommerce will account for more than one-fifth of those sales.
Inflation will have less of an impact on core luxury shoppers than on the ordinary US consumer. As a result, the luxury category will be resilient, rising at a rate of more than 13% in 2022, compared to a rate of around 6% for retail overall, according to the survey.