Luxury Goods in the US

Luxury Goods in the US

EXECUTIVE SUMMARY

The taste for luxury goods is changing in the US

Millennialisation and the role of experiences are shifting luxury

The competition varies within luxury goods categories

E-commerce continues to disrupt store-based retailing

Luxury goods is expected to see growth once again

MARKET INDICATORS

Table 1 Number of High Net Worth Individuals (HNWI): 2013-2018

MARKET DATA

Table 2 Sales of Luxury Goods by Category: Value 2013-2018
Table 3 Sales of Luxury Goods by Category: % Value Growth 2013-2018
Table 4 Inbound Receipts for Luxury Goods by Country of Origin: Value 2013-2018
Table 5 NBO Company Shares of Luxury Goods: % Value 2013-2017
Table 6 LBN Brand Shares of Luxury Goods: % Value 2014-2017
Table 7 Distribution of Luxury Goods by Format and Category: % Value 2018
Table 8 Forecast Sales of Luxury Goods by Category: Value 2018-2023
Table 9 Forecast Sales of Luxury Goods by Category: % Value Growth 2018-2023

SOURCES

Summary 1 Research Sources

Designer Apparel and Footwear (Ready-To-Wear) in the US

HEADLINES

PROSPECTS

The shifting retail landscape shapes growth strategies

Luxury consumers embrace logos

Sneakers and slides help to grow men’s designer footwear

COMPETITIVE LANDSCAPE

Ralph Lauren struggles to realise growth amidst restructuring

Designer brands adopt streetwear’s “drop” distribution model

Department stores try experiential retail strategies

CATEGORY DATA

Table 10 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2013-2018
Table 11 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2013-2018
Table 12 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2013-2017
Table 13 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2014-2017
Table 14 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2013-2018
Table 15 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2018-2023
Table 16 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2018-2023

Fine Wines/Champagne and Spirits in the US

HEADLINES

PROSPECTS

Premiumisation drives new consumption trends

Luxury vodka consumption fluctuates

Luxury brandy and cognac sees the fastest growth

COMPETITIVE LANDSCAPE

Bacardi acquires the leading super premium tequila brand, Patron

Bacardi USA takes the lead from Diageo North America

Online retailing of fine wines/champagne and spirits continues to grow

CATEGORY DATA

Table 17 Sales of Fine Wines/Champagne and Spirits by Category: Value 2013-2018
Table 18 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2013-2018
Table 19 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2013-2017
Table 20 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2014-2017
Table 21 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2013-2018
Table 22 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2018-2023
Table 23 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2018-2023

Luxury Cars in the US

HEADLINES

PROSPECTS

SUVs see an increasing share of sales

Electric vehicles are increasing in popularity

Increasing production by Tesla

COMPETITIVE LANDSCAPE

Mercedes-Benz, BMW, Lexus and Audi are the leading brands

The rise of luxury car sharing

More companies are making electric vehicles than ever before

CATEGORY DATA

Table 24 Sales of Luxury Cars: Value 2013-2018
Table 25 Sales of Luxury Cars: % Value Growth 2013-2018
Table 26 NBO Company Shares of Luxury Cars: % Value 2013-2017
Table 27 LBN Brand Shares of Luxury Cars: % Value 2014-2017
Table 28 Forecast Sales of Luxury Cars: Value 2018-2023
Table 29 Forecast Sales of Luxury Cars: % Value Growth 2018-2023

Luxury Eyewear in the US

HEADLINES

PROSPECTS

Influencers drive trends and sales

Eyewear is seen as a preventative measure for eye health

E-commerce grows despite prescription-related hurdles

COMPETITIVE LANDSCAPE

Ray-Ban and Oakley continue to lead

Independent brands compete for attention

Licensing changes shake up the competitive landscape

CATEGORY DATA

Table 30 Sales of Luxury Eyewear by Category: Value 2013-2018
Table 31 Sales of Luxury Eyewear by Category: % Value Growth 2013-2018
Table 32 NBO Company Shares of Luxury Eyewear: % Value 2013-2017
Table 33 LBN Brand Shares of Luxury Eyewear: % Value 2014-2017
Table 34 Distribution of Luxury Eyewear by Format: % Value 2013-2018
Table 35 Forecast Sales of Luxury Eyewear by Category: Value 2018-2023
Table 36 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2018-2023

Luxury Jewellery in the US

HEADLINES

PROSPECTS

The consumption of luxury jewellery is not a priority for millennials

Man-made diamonds are emerging as a cheaper and more ethical alternative

Internet retailing continues to slowly increase

COMPETITIVE LANDSCAPE

De Beers ends its joint venture with LVMH

Tiffany & Co responds to a lacklustre 2017 with early growth in 2018

Social media and influencers continue to play a role

CATEGORY DATA

Table 37 Sales of Luxury Jewellery by Category: Value 2013-2018
Table 38 Sales of Luxury Jewellery by Category: % Value Growth 2013-2018
Table 39 NBO Company Shares of Luxury Jewellery: % Value 2013-2017
Table 40 LBN Brand Shares of Luxury Jewellery: % Value 2014-2017
Table 41 Distribution of Luxury Jewellery by Format: % Value 2013-2018
Table 42 Forecast Sales of Luxury Jewellery by Category: Value 2018-2023
Table 43 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2018-2023

Luxury Leather Goods in the US

HEADLINES

PROSPECTS

Travel and tourism benefits luxury travel goods

Social media shareability drives sales

Brands make headlines for controversial destruction practices

COMPETITIVE LANDSCAPE

European luxury conglomerates capitalise on trends

US brands seek acquisitions amid turnarounds

Internet growth spurs experiential retail strategies

CATEGORY DATA

Table 44 Sales of Luxury Leather Goods: Value 2013-2018
Table 45 Sales of Luxury Leather Goods: % Value Growth 2013-2018
Table 46 NBO Company Shares of Luxury Leather Goods: % Value 2013-2017
Table 47 LBN Brand Shares of Luxury Leather Goods: % Value 2014-2017
Table 48 Distribution of Luxury Leather Goods by Format: % Value 2013-2018
Table 49 Forecast Sales of Luxury Leather Goods: Value 2018-2023
Table 50 Forecast Sales of Luxury Leather Goods: % Value Growth 2018-2023

Luxury Portable Consumer Electronics in the US

HEADLINES

PROSPECTS

Vertu goes out of business in July 2017

More luxury brands continue to launch high-end smartwatches

The life expectancy of luxury wearables affects demand

COMPETITIVE LANDSCAPE

TAG Heuer performs well

Apple and Tag Heuer continue to lead luxury wearables

An upgrade to the Snapdragon processor

CATEGORY DATA

Table 51 Sales of Luxury Portable Consumer Electronics by Category: Value 2013-2018
Table 52 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2013-2018
Table 53 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2013-2017
Table 54 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2014-2017
Table 55 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2013-2018
Table 56 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2018-2023
Table 57 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2018-2023

Luxury Timepieces in the US

HEADLINES

PROSPECTS

Federation of the Swiss Watch Industry reports an increase in exports to the US

Apple claims more sales of Apple Watches than the entire Swiss watch industry

Further emergence of internet retailing, as well as other luxury timepiece services

COMPETITIVE LANDSCAPE

Swatch Group pulls out of the Baselworld watch conference

Movado Group acquires the MVMT brand

A movement away from mixed retailers towards internet retailing and boutiques

CATEGORY DATA

Table 58 Sales of Luxury Timepieces by Category: Value 2013-2018
Table 59 Sales of Luxury Timepieces by Category: % Value Growth 2013-2018
Table 60 NBO Company Shares of Luxury Timepieces: % Value 2013-2017
Table 61 LBN Brand Shares of Luxury Timepieces: % Value 2014-2017
Table 62 Distribution of Luxury Timepieces by Format: % Value 2013-2018
Table 63 Forecast Sales of Luxury Timepieces by Category: Value 2018-2023
Table 64 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2018-2023

Luxury Writing Instruments and Stationery in the US

HEADLINES

PROSPECTS

Value sales of luxury writing instruments continue to decline in the US

Luxury writing instruments are not as popular as in the past

Non-grocery specialists remains the leading distribution channel in 2018

COMPETITIVE LANDSCAPE

Montblanc continues to lead luxury writing instruments despite lower demand

The launch of limited editions to maintain interest

The social media emphasis on luxury writing instruments is still limited

CATEGORY DATA

Table 65 Sales of Luxury Writing Instruments and Stationery: Value 2013-2018
Table 66 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2013-2018
Table 67 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2013-2017
Table 68 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2014-2017
Table 69 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2013-2018
Table 70 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2018-2023
Table 71 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2018-2023

Super Premium Beauty and Personal Care in the US

HEADLINES

PROSPECTS

Super premium luxury brands experiment with digital strategies

Expanding availability

Pop-up shops offer event-driven excitement and branding for players

COMPETITIVE LANDSCAPE

Amazon advances the luxury beauty brand offerings on its luxury beauty platform

Chanel and Christian Dior develop fragrance line extensions through hair mists

Tom Ford maintains momentum through organic growth in fragrances

CATEGORY DATA

Table 72 Sales of Super Premium Beauty and Personal Care by Category: Value 2013-2018
Table 73 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2013-2018
Table 74 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2013-2017
Table 75 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2014-2017
Table 76 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2013-2018
Table 77 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2018-2023
Table 78 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2018-2023

Luxury Foodservice in the US

HEADLINES

PROSPECTS

Changing consumer preferences shape foodservice

Foodservice as a strategy to bring consumers back to stores

The convenience brought about by delivery also plays a role in the luxury world

COMPETITIVE LANDSCAPE

Tiffany’s Blue Box Café appeals to consumers’ nostalgia

Restaurants as showrooms – a new venue for luxury retailers

The new luxury goes beyond fine dining

CATEGORY DATA

Table 79 Sales in Luxury Foodservice: Value 2013-2018
Table 80 Sales in Luxury Foodservice: % Value Growth 2013-2018
Table 81 NBO Company Shares in Luxury Foodservice: % Value 2013-2017
Table 82 LBN Brand Shares in Luxury Foodservice: % Value 2014-2017
Table 83 Forecast Sales in Luxury Foodservice: Value 2018-2023
Table 84 Forecast Sales in Luxury Foodservice: % Value Growth 2018-2023

Luxury Hotels in the US

HEADLINES

PROSPECTS

Retail value and volume to register growth over the forecast period

The growth of “bleisure” gives hotels an opportunity to grow their revenues

“Smart” guest rooms are the future

COMPETITIVE LANDSCAPE

Airbnb moves further into the luxury space

Steering away from a formulaic approach

Investment in wellness sets brands apart

CATEGORY DATA

Table 85 Sales in Luxury Hotels: Value 2013-2018
Table 86 Sales in Luxury Hotels: % Value Growth 2013-2018
Table 87 Sales in Luxury Hotels by Country of Origin: % Value 2013-2017
Table 88 NBO Company Shares in Luxury Hotels: % Value 2013-2017
Table 89 LBN Brand Shares in Luxury Hotels: % Value 2014-2017
Table 90 Forecast Sales in Luxury Hotels: Value 2018-2023
Table 91 Forecast Sales in Luxury Hotels: % Value Growth 2018-2023

Personal Luxury in the US

HEADLINES

PROSPECTS

The effect of social media and influencers is growing in luxury consumption habits

Super premium beauty and personal care continues its growth

Affordable luxury is more popular with millennials

COMPETITIVE LANDSCAPE

The continued rise of e-commerce in personal luxury

Experiential retailing is a growing priority for luxury brands

Changes moving forward

CATEGORY DATA

Table 92 Sales of Personal Luxury by Category: Value 2013-2018
Table 93 Sales of Personal Luxury by Category: % Value Growth 2013-2018
Table 94 NBO Company Shares of Personal Luxury: % Value 2013-2017
Table 95 LBN Brand Shares of Personal Luxury: % Value 2014-2017
Table 96 Forecast Sales of Personal Luxury by Category: Value 2018-2023
Table 97 Forecast Sales of Personal Luxury by Category: % Value Growth 2018-2023

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