The explosive growth of personal luxury in the US in 2021, fuelled by the release of pent-up demand from the pandemic, has gradually slowed since 2022, and it is expected to see continued moderate retail current value growth rates throughout the forecast period. Although personal luxury in the US has demonstrated resilience against ongoing challenges, performing better than in many other regions, it still faces obstacles to sustaining stronger growth.
Over the forecast period, sustainability will remain a key theme in personal luxury in the US, as consumers become increasingly aware of and concerned about the effects of climate change, particularly in fashion, which has made headlines for its negative impact on the environment. Indeed, 12% of US consumers reported being influenced by sustainably produced features in apparel and personal accessories in 2024, up from 9% the year before, driven by Millennials and Gen Z (Euromonitor International’s Voice of the Consumer: Lifestyles Survey, fielded January to February 2024).
Over the forecast period, personal luxury players will be challenged with balancing a retail store and e-commerce presence. The importance of e-commerce has become undeniable post-pandemic, but physical stores are crucial in building emotional connections and brand loyalty, making it essential for luxury players to provide an authentic and seamless experience across both channels.
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Understand the latest market trends and future growth opportunities for the Personal Luxury industry in USA with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Personal Luxury industry in USA, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Personal Luxury
This is an aggregation of Designer Clothing and Footwear (Ready-to-Wear), Luxury Eyewear, Luxury Jewellery, Luxury Timepieces, Luxury Leather Goods, Luxury Writing Instruments and Stationery, Luxury Portable Consumer Electronics and Super Premium Beauty and Personal Care.
See All of Our DefinitionsThis report originates from Passport, our Personal Luxury research and analysis database.
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