Luxury Goods in the US

December 2021
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Overview:

Understand the latest market trends and future growth opportunities for the Luxury Goods 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.

Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:

  • Experiential Luxury
  • Luxury Hotels
  • Fine Wines/Champagne
  • Premium and Luxury Cars
  • Personal Luxury
  • Designer Apparel and Footwear
  • Luxury Eyewear
  • Luxury Jewellery
  • Luxury Leather Goods
  • Luxury Portable Consumer Electronics
  • Luxury Timepieces
  • Luxury Writing Instruments and Stationery
  • Super Premium Beauty and Personal Care

If you're in the Luxury Goods 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.

The Luxury Goods in USA report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volume and value sizes, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent research methodology, conducted in-country

This report answers:

  • What is the market size of Luxury Goods in USA?
  • Which are the leading brands in Luxury Goods in USA?
  • How are products distributed in Luxury Goods in USA?
  • How important is tourism in evaluating demand for Luxury Goods in USA?
  • How is the rise of e-commerce changing the retail and competitive landscape?
  • How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
  • Where is future growth expected to be most dynamic?

Luxury Goods in the US

EXECUTIVE SUMMARY

Luxury goods in 2021: The big picture
2021 key trends
Competitive landscape
Retailing developments
What next for luxury goods?

MARKET DATA

Table 1 Sales of Luxury Goods by Category: Value 2016-2021 Table 2 Sales of Luxury Goods by Category: % Value Growth 2016-2021 Table 3 Inbound Receipts for Luxury Goods by Country of Origin: Value 2016-2021 Table 4 NBO Company Shares of Luxury Goods: % Value 2016-2020 Table 5 LBN Brand Shares of Luxury Goods: % Value 2017-2020 Table 6 Distribution of Luxury Goods by Format and Category: % Value 2021 Table 7 Forecast Sales of Luxury Goods by Category: Value 2021-2026 Table 8 Forecast Sales of Luxury Goods by Category: % Value Growth 2021-2026

DISCLAIMER

SOURCES

Summary 1 Research Sources

Experiential Luxury in the US

KEY DATA FINDINGS

2021 DEVELOPMENTS

Lifting of travel and indoor dining restrictions boosts sales of experiential luxury
Consumers shift booking patterns amidst recovery hopes
Adoption of digital technology facilitates recovery

PROSPECTS AND OPPORTUNITIES

Experiential luxury will continue to struggle with the recovery process
International travellers and diners will not return in the short term
Catering to consumers’ demand for sustainability will be an opportunity

CATEGORY DATA

Table 9 Sales of Experiential Luxury by Category: Value 2016-2021 Table 10 Sales of Experiential Luxury by Category: % Value Growth 2016-2021 Table 11 NBO Company Shares of Experiential Luxury: % Value 2016-2020 Table 12 LBN Brand Shares of Experiential Luxury: % Value 2017-2020 Table 13 Forecast Sales of Experiential Luxury by Category: Value 2021-2026 Table 14 Forecast Sales of Experiential Luxury by Category: % Value Growth 2021-2026

Luxury Foodservice in the US

KEY DATA FINDINGS

2021 DEVELOPMENTS

Lifting of indoor dining restrictions drives up luxury foodservice sales
Low capability to adopt digital technology is an obstacle to recovery

PROSPECTS AND OPPORTUNITIES

International travel restrictions will continue to prevent tourists from visiting restaurants
Recovery will remain slow over the forecast period

CATEGORY DATA

Table 15 Sales in Luxury Foodservice: Value 2016-2021 Table 16 Sales in Luxury Foodservice: % Value Growth 2016-2021 Table 17 NBO Company Shares in Luxury Foodservice: % Value 2016-2020 Table 18 LBN Brand Shares in Luxury Foodservice: % Value 2017-2020 Table 19 Forecast Sales in Luxury Foodservice: Value 2021-2026 Table 20 Forecast Sales in Luxury Foodservice: % Value Growth 2021-2026

Luxury Hotels in the US

KEY DATA FINDINGS

2021 DEVELOPMENTS

Loosened travel restrictions and rising savings drive a rebound in domestic demand
Increasing length of stay indicates the hotel living trend
COVID-19 accelerates the adoption of digital technology amongst consumers and businesses

PROSPECTS AND OPPORTUNITIES

International customers of luxury hotels will not return in the short term
Luxury hotels will experience a longer recovery process compared with other lodging segments
Demand for environmentally-friendly practices and social responsibility will increase

CATEGORY DATA

Table 21 Sales in Luxury Hotels: Value 2016-2021 Table 22 Sales in Luxury Hotels: % Value Growth 2016-2021 Table 23 NBO Company Shares in Luxury Hotels: % Value 2016-2020 Table 24 LBN Brand Shares in Luxury Hotels: % Value 2017-2020 Table 25 Forecast Sales in Luxury Hotels: Value 2021-2026 Table 26 Forecast Sales in Luxury Hotels: % Value Growth 2021-2026

Fine Wines/Champagne and Spirits in the US

KEY DATA FINDINGS

2021 DEVELOPMENTS

A shift to self-comfort amidst home seclusion lifts fine wines/champagne and spirits
E-commerce adoption accelerates growth
Increased at-home consumption continues to lead consumers to trade up

PROSPECTS AND OPPORTUNITIES

Solid growth over the forecast period as at-home consumption continues
E-commerce to continue to grow rapidly, but grocery retailers will remain dominant
Increasing availability of legal, premium cannabis products will weigh on sales

CATEGORY DATA

Table 27 Sales of Fine Wines/Champagne and Spirits by Category: Value 2016-2021 Table 28 Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2016-2021 Table 29 NBO Company Shares of Fine Wines/Champagne and Spirits: % Value 2016-2020 Table 30 LBN Brand Shares of Fine Wines/Champagne and Spirits: % Value 2017-2020 Table 31 Distribution of Fine Wines/Champagne and Spirits by Format: % Value 2016-2021 Table 32 Forecast Sales of Fine Wines/Champagne and Spirits by Category: Value 2021-2026 Table 33 Forecast Sales of Fine Wines/Champagne and Spirits by Category: % Value Growth 2021-2026

Premium and Luxury Cars in the US

KEY DATA FINDINGS

2021 DEVELOPMENTS

Luxury cars recovers as top-earning households fare well amidst the pandemic
Parts shortages and assembly plant closures continue to impact sales in 2021
Tesla continues to grow its share amidst pandemic restrictions

PROSPECTS AND OPPORTUNITIES

Further consolidation predicted in the premium landscape
Pandemic-related changes will begin to drive new car sales
Growth in charging stations and the phasing-out of petrol vehicles will shape the recovery of luxury cars

CATEGORY DATA

Table 34 Sales of Premium and Luxury Cars: Value 2016-2021 Table 35 Sales of Premium and Luxury Cars: % Value Growth 2016-2021 Table 36 NBO Company Shares of Premium and Luxury Cars: % Value 2016-2020 Table 37 LBN Brand Shares of Premium and Luxury Cars: % Value 2017-2020 Table 38 Forecast Sales of Premium and Luxury Cars: Value 2021-2026 Table 39 Forecast Sales of Premium and Luxury Cars: % Value Growth 2021-2026

Personal Luxury in the US

KEY DATA FINDINGS

2021 DEVELOPMENTS

Despite a return to growth, personal luxury remains below pre-pandemic value sales
Amidst continued stay-at-home behaviour, certain categories remain strong
Disruptions to in-store shopping continue to boost e-commerce sales

PROSPECTS AND OPPORTUNITIES

Pent-up demand for experiences will benefit many personal luxury categories over the forecast period
As e-commerce continues to grow, luxury brands will accelerate digital investments
Consumers will increasingly participate in the resale market for personal luxury

CATEGORY DATA

Table 40 Sales of Personal Luxury by Category: Value 2016-2021 Table 41 Sales of Personal Luxury by Category: % Value Growth 2016-2021 Table 42 NBO Company Shares of Personal Luxury: % Value 2016-2020 Table 43 LBN Brand Shares of Personal Luxury: % Value 2017-2020 Table 44 Distribution of Personal Luxury by Format: % Value 2016-2021 Table 45 Forecast Sales of Personal Luxury by Category: Value 2021-2026 Table 46 Forecast Sales of Personal Luxury by Category: % Value Growth 2021-2026

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

KEY DATA FINDINGS

2021 DEVELOPMENTS

Despite returning to growth, sales remain lower than pre-pandemic
Amidst continued stay-at-home behaviour, sportswear outperforms
Disruptions to in-store shopping continue to boost e-commerce sales

PROSPECTS AND OPPORTUNITIES

Pent-up demand for experiences will benefit designer apparel over the forecast period
Consumers will increasingly participate in the luxury resale market
E e-commerce will continue to grow as luxury brands accelerate digital investments

CATEGORY DATA

Table 47 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2016-2021 Table 48 Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2016-2021 Table 49 NBO Company Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2016-2020 Table 50 LBN Brand Shares of Designer Apparel and Footwear (Ready-to-Wear): % Value 2017-2020 Table 51 Distribution of Designer Apparel and Footwear (Ready-to-Wear) by Format: % Value 2016-2021 Table 52 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: Value 2021-2026 Table 53 Forecast Sales of Designer Apparel and Footwear (Ready-to-Wear) by Category: % Value Growth 2021-2026

Luxury Eyewear in the US

KEY DATA FINDINGS

2021 DEVELOPMENTS

Luxury eyewear begins to recover despite continued impact from the pandemic
Lack of need amidst increased time spent at home continues to weigh on sales
Continued travel restrictions lead eyewear players to prioritise local consumers

PROSPECTS AND OPPORTUNITIES

Recovery of luxury spectacle frames to come before luxury sunglasses due to medical need
Consumers increasingly demand sustainably-produced eyewear
Tech companies vie to own eyewear as an entryway to the metaverse

CATEGORY DATA

Table 54 Sales of Luxury Eyewear by Category: Value 2016-2021 Table 55 Sales of Luxury Eyewear by Category: % Value Growth 2016-2021 Table 56 NBO Company Shares of Luxury Eyewear: % Value 2016-2020 Table 57 LBN Brand Shares of Luxury Eyewear: % Value 2017-2020 Table 58 Distribution of Luxury Eyewear by Format: % Value 2016-2021 Table 59 Forecast Sales of Luxury Eyewear by Category: Value 2021-2026 Table 60 Forecast Sales of Luxury Eyewear by Category: % Value Growth 2021-2026

Luxury Jewellery in the US

KEY DATA FINDINGS

2021 DEVELOPMENTS

Luxury jewellery begins to recover despite continued impact from the pandemic
Lack of need amidst increased time spent at home continues to hamper sales
Continued travel restrictions lead jewellery players to court local consumers

PROSPECTS AND OPPORTUNITIES

Recovery of luxury fine jewellery ahead of luxury costume jewellery
Consumers will increasingly shop resale for jewellery
Brands and retailers overhaul investments in digital merchandising

CATEGORY DATA

Table 61 Sales of Luxury Jewellery by Category: Value 2016-2021 Table 62 Sales of Luxury Jewellery by Category: % Value Growth 2016-2021 Table 63 NBO Company Shares of Luxury Jewellery: % Value 2016-2020 Table 64 LBN Brand Shares of Luxury Jewellery: % Value 2017-2020 Table 65 Distribution of Luxury Jewellery by Format: % Value 2016-2021 Table 66 Forecast Sales of Luxury Jewellery by Category: Value 2021-2026 Table 67 Forecast Sales of Luxury Jewellery by Category: % Value Growth 2021-2026

Luxury Leather Goods in the US

KEY DATA FINDINGS

2021 DEVELOPMENTS

Despite returning to growth, luxury leather goods remains depressed by restrictions
Versatile bags outperform the category, leading to new product launches
Disruptions to in-store shopping continue to boost sales via e-commerce

PROSPECTS AND OPPORTUNITIES

Pent-up demand for experiences will benefit luxury leather goods over the forecast period
Consumers will increasingly participate in the luxury resale market
As e-commerce continues to grow, luxury brands will accelerate digital investments

CATEGORY DATA

Table 68 Sales of Luxury Leather Goods: Value 2016-2021 Table 69 Sales of Luxury Leather Goods: % Value Growth 2016-2021 Table 70 NBO Company Shares of Luxury Leather Goods: % Value 2016-2020 Table 71 LBN Brand Shares of Luxury Leather Goods: % Value 2017-2020 Table 72 Distribution of Luxury Leather Goods by Format: % Value 2016-2021 Table 73 Forecast Sales of Luxury Leather Goods: Value 2021-2026 Table 74 Forecast Sales of Luxury Leather Goods: % Value Growth 2021-2026

Luxury Portable Consumer Electronics in the US

KEY DATA FINDINGS

2021 DEVELOPMENTS

Recovery slightly softens the decline of mobile phones, yet the appetite for purchasing remains limited
Function and design upgrades, coupled with health awareness, add fuel to luxury wearables
E-commerce remains a key destination for exploration and purchases

PROSPECTS AND OPPORTUNITIES

Where functionality and aesthetics meet is a sweet spot
Price sensitivity and mounting product variety will squeeze luxury mobile phones
Digital innovation set to gain weight in the luxury experience

CATEGORY DATA

Table 75 Sales of Luxury Portable Consumer Electronics by Category: Value 2016-2021 Table 76 Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2016-2021 Table 77 NBO Company Shares of Luxury Portable Consumer Electronics: % Value 2016-2020 Table 78 LBN Brand Shares of Luxury Portable Consumer Electronics: % Value 2017-2020 Table 79 Distribution of Luxury Portable Consumer Electronics by Format: % Value 2016-2021 Table 80 Forecast Sales of Luxury Portable Consumer Electronics by Category: Value 2021-2026 Table 81 Forecast Sales of Luxury Portable Consumer Electronics by Category: % Value Growth 2021-2026

Luxury Timepieces in the US

KEY DATA FINDINGS

2021 DEVELOPMENTS

Luxury timepieces begins recovery, but pandemic continues to have a negative impact
Lack of need amidst increased time spent at home continues to limit sales
Continued travel restrictions lead top players to court tourists in their home markets

PROSPECTS AND OPPORTUNITIES

Value sales recovery to come before volume, amidst rising unit prices
Given supply and environmental concerns, consumers increasingly turn to resale
Brands and retailers overhaul their investments in digital merchandising

CATEGORY DATA

Table 82 Sales of Luxury Timepieces by Category: Value 2016-2021 Table 83 Sales of Luxury Timepieces by Category: % Value Growth 2016-2021 Table 84 NBO Company Shares of Luxury Timepieces: % Value 2016-2020 Table 85 LBN Brand Shares of Luxury Timepieces: % Value 2017-2020 Table 86 Distribution of Luxury Timepieces by Format: % Value 2016-2021 Table 87 Forecast Sales of Luxury Timepieces by Category: Value 2021-2026 Table 88 Forecast Sales of Luxury Timepieces by Category: % Value Growth 2021-2026

Luxury Writing Instruments and Stationery in the US

KEY DATA FINDINGS

2021 DEVELOPMENTS

Luxury writing instruments and stationery begins multi-year recovery
E-commerce remains a priority for consumers and brands alike
Expansion of remote working leads some consumers to upgrade their writing instruments

PROSPECTS AND OPPORTUNITIES

Use of digital devices will hamper growth over the forecast period
Prevalence of remote learning and work complicates forecast outlook
While e-commerce is set to continue to grow, stores will remain vital

CATEGORY DATA

Table 89 Sales of Luxury Writing Instruments and Stationery: Value 2016-2021 Table 90 Sales of Luxury Writing Instruments and Stationery: % Value Growth 2016-2021 Table 91 NBO Company Shares of Luxury Writing Instruments and Stationery: % Value 2016-2020 Table 92 LBN Brand Shares of Luxury Writing Instruments and Stationery: % Value 2017-2020 Table 93 Distribution of Luxury Writing Instruments and Stationery by Format: % Value 2016-2021 Table 94 Forecast Sales of Luxury Writing Instruments and Stationery: Value 2021-2026 Table 95 Forecast Sales of Luxury Writing Instruments and Stationery: % Value Growth 2021-2026

Super Premium Beauty and Personal Care in the US

KEY DATA FINDINGS

2021 DEVELOPMENTS

Sales begin to recover after the losses seen in 2020, especially in premium colour cosmetics
Personalisation builds momentum across super premium categories
Super premium fragrances stands out in 2021

PROSPECTS AND OPPORTUNITIES

Pandemic accelerates the beauty tech boom, impacting super premium categories
Refillable packaging in high-end beauty is an opportunity for differentiation
Beauty specialist retailers and department stores both vie to compete against e-commerce in premium beauty

CATEGORY DATA

Table 96 Sales of Super Premium Beauty and Personal Care by Category: Value 2016-2021 Table 97 Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2016-2021 Table 98 NBO Company Shares of Super Premium Beauty and Personal Care: % Value 2016-2020 Table 99 LBN Brand Shares of Super Premium Beauty and Personal Care: % Value 2017-2020 Table 100 Distribution of Super Premium Beauty and Personal Care by Format: % Value 2016-2021 Table 101 Forecast Sales of Super Premium Beauty and Personal Care by Category: Value 2021-2026 Table 102 Forecast Sales of Super Premium Beauty and Personal Care by Category: % Value Growth 2021-2026
The following categories and subcategories are included:

Luxury Goods

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This report originates from Passport, our Luxury Goods research and analysis database.

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