Expert Insights from a Mintel Analyst
This report, written by Diana Shao, a leading research analyst, delivers in-depth commentary and analysis to highlight trends in the affordblae luxury market and add expert context to the numbers.
It’s high time for affordable luxury brands to refresh consumers’ perceptions and re-ignite their interest by delivering a unique design and brand experience that helps consumers celebrate individuality.
Diana Shao
Category Director – Retail, Technology and Media
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Executive Summary
- Key issues covered in this Report
- The market
- The consumer
- Graph 1: consumer spending on affordable luxury, by category, 2023
- Graph 2: purchasing channels of affordable luxury goods, 2023
- Graph 3: reasons for purchasing affordable luxury goods, 2023
- Graph 4: information channels for affordable luxury brands, 2023
- Graph 5: features of affordable luxury brands, 2023
- Graph 6: attitudes towards spending on affordable luxury or luxury, 2023
- Graph 7: attitudes towards affordable luxury/luxury brands in shaping personal image, 2023
- Graph 8: attitudes towards category coverage of affordable luxury brands, 2023
- Graph 9: attitudes towards affordable luxury brands offering discounts, 2023
- Issues and insights
- What we think
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The market
- Market overview
- Market factors
- Graph 10: disposable income growth rates, 2019-23
- Graph 11: very confident/somewhat confident about improving financial situation in the next three months, 2022-23
- Graph 12: proportion of respondents who intend to buy more expensive clothing, footwear and accessories, 2022-23
- Market highlights
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The consumer
- Spending on affordable luxury
- Graph 13: consumer spending on affordable luxury, by category, 2021 vs 2023
- Graph 14: consumer spending on affordable luxury, by category, 2023
- Graph 15: consumer spending on affordable luxury – spent more/about the same, by age, 2023
- Graph 16: consumer spending on affordable luxury – spent more/about the same, by monthly household income, 2023
- Graph 17: consumer spending on affordable luxury – purchased, by city tier, 2023
- Purchasing channels for affordable luxury goods
- Graph 18: purchasing channels for affordable luxury goods, 2021 vs 2023
- Graph 19: repertoire analysis of purchasing channels of affordable luxury goods, 2023
- Graph 20: purchasing channels of affordable luxury goods, 2023
- Graph 21: purchasing channels for affordable luxury goods, respondents who spent more vs total, 2023
- Reasons for purchasing affordable luxury goods
- Graph 22: reasons for purchasing affordable luxury goods, 2023
- Graph 23: reasons for purchasing affordable luxury goods, by monthly personal income, 2023
- Graph 24: reasons for purchasing affordable luxury goods, respondents who spent more vs total, 2023
- Ways to learn about an affordable luxury brand
- Graph 25: information channels for affordable luxury brands, 2023
- Graph 26: information channels for affordable luxury brands, respondents who spent more vs total, 2023
- Important properties that an affordable luxury brand should possess
- Graph 27: features of affordable luxury brands, 2023
- Graph 28: features of affordable luxury brands, respondents who spent more vs total, 2023
- Attitudes towards affordable luxury
- Graph 29: attitudes towards affordable luxury/luxury brands in shaping personal image, 2023
- Graph 30: attitudes towards spending on affordable luxury or luxury, 2023
- Graph 31: attitudes towards category coverage of affordable luxury brands, 2023
- Graph 32: attitudes towards affordable luxury brands offering discounts, 2023
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Issues and Insights
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Appendix – methodology and abbreviations
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