US Luxury Shopping Online Market Report 2023

This report explores the attitudes and behaviors of consumers who have shopped for luxury goods online. Below, we summarize the key topics covered and offer handpicked insights from the full document.

Key Topics Covered

• How consumers define and perceive the concept of “luxury”.
• Luxury items purchased and pricing tiers.
• Where consumers shop for luxury items.
• Important aspects of the online luxury shopping experience.
• Attitudes toward luxury and shopping for luxury items.

US Luxury Goods Market Overview

The luxury market may be slowing after recent years’ strong savings-backed performance, despite improvements to the economy, with declining consumer confidence and other factors contributing. US luxury sales may have slumped, but the global luxury goods market remains mostly positive. Brands may need to consider promotional strategies to maintain sales as consumers reduce discretionary spending.

Online Luxury Goods Consumer Statistics

• Over half of consumers have made a luxury purchase in the past three years. This is perhaps surprising, given the financial pressures of recent years. However, this is evidence of stockpiled savings from the pandemic era.
• Luxury is seen as needing to be high quality above all other characteristics. This makes quality the main lens through which all other aspects can be reinforced. For shoppers willing to spend extra for luxury, quality claims must be clear.
• Affluent consumers tend to spend $5,000 or less on a luxury purchase. This helps to explain the popularity of mid-tier department stores. Meanwhile, lower-income consumers spend $500 or less, indicating a need for brands to communicate their definition of luxury effectively.

Opportunity for Luxury Goods Brands

eCommerce and omnichannel aren’t going anywhere. To keep up with the evolving demands of the sophisticated, multi-channel luxury consumers of the future, luxury brands and retailers must persist in their technological investments, particularly in AI and digital experiences.

Buy your copy of this report today, and gain fresh insight into the online luxury goods shopper.

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Expert Analysis

Leading retail and eCommerce analyst Brittany Steiger delivers industry expertise with this in-depth report.

Luxury retail is evolving in the omnichannel era, where digital expansion is paramount to delivering quality experiences to a new generation of luxury shoppers.

 

Brittany Steiger
Senior Analyst, US Retail and eCommerce Reports