Since the outbreak of COVID-19, the response to control the spread was significantly less stringent than other countries. While the peak of the virus was spreading globally, lockdown restrictions were taking place in the US at a local level, and controls were put in place on international travel.
Luxury mobile phones still proved to be negligible in 2020. Only a few brands are available, such as Belperre, made for customised order, and Gresso, which offers both feature phones and smartphones and a portfolio of strong and durable cases, as well as luxury goods.
Luxury wearables is expected to record a value decline in 2020, with price-sensitivity and some consumers reluctancy to socialise in public, impacting sales. However, some luxury brands continued to see positive sales, with offerings from those with lower price-points, such as Michael Kors, to higher price points such as Tag Heuer, performing well.
Due to the outbreak of COVID-19 in the country, in 2020, a greater share of luxury wearable sales will come from domestic consumers, with international consumer expenditure reduced due to travel restrictions. As such, a recovery across the forecast period will be linked to international travellers confidence to visit the US once more, aligned to the successful roll-out of a vaccine.
E-commerce sales in the US are high, with the country leading globally when it comes to sales through the online channel. In 2020, this growth accelerated, with store closures forcing consumers who wanted to purchase luxury portable consumer electronics, to do so online.
With the sharp recession forecast for 2020 and less disposable income, it is expected that spending on luxury items will be tightened across the year. With cases of COVID-19 rising in Q4 of 2020, this may continue to be the case across the early forecast period, as some consumers remain wary of unnecessary spending.
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Understand the latest market trends and future growth opportunities for the Luxury Portable Consumer Electronics industry in USA with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Luxury Portable Consumer Electronics research and analysis database.
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