US The Black Premium Brand and Luxury Consumer market report
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Providing the most comprehensive and up-to-date information and analysis of the The Black Premium Brand and Luxury Consumer market, and the behaviours, preferences and habits of the consumer.
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What are the key challenges facing the industry and how fast are its rates of growth? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?
The concept of luxury goods is inevitably highly subjective. It is usually obvious where a product is luxury and equally obvious where it isn’t, but there is a gray area in between that is more subjective.
The term luxury usually carries with it the idea that a very high level of craftsmanship is involved and that the products carry a high price so that they are out of the reach of most mass-market buyers. Unfortunately, they can also carry connotations of ostentation and conspicuous consumption as a negative personal trait.
In Mintel’s analysis, there are three main categories of luxury goods, to which a miscellaneous group of smaller products is added:
- Fashion and leather goods
- Fragrances and cosmetics
- Jewelry and watches
- Other (ie writing instruments, eyewear, furniture, home goods, and other miscellaneous items)
Food, beverages, tobacco, electronic goods, automobiles, and services such as travel are generally excluded.
Readers may also be interested in Mintel’s The Premium Brand and Luxury Consumer – US, December 2014 and The Asian Premium Brand and Luxury Consumer – US, November 2016.
Expert analysis from a specialist in the field
Written by Toya Mitchell, a leading analyst in the Multicultural sector, her extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
Black consumers over index vs the general market on buying luxury brands, but it’s not necessarily an exercise simply in conspicuous consumption. Several factors drive luxury brand purchase including the need to have agency of their identity, the desire for elevated status among their peers, and a connection to quality product craftsmanship.
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This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel's proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our tables of data are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
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