Value-Driven Luxury Purchases

Consumers are prioritizing quality and longevity in luxury purchases, driven by economic insecurity and fast-paced trends.

Themes

Navigating Global Uncertainty , Values-Driven Consumption

Timeframe

near-term

Subcategories

Consumer Behavior Consumer Preferences Market Trends Risk Management

Impact areas

Consumer Behavior Luxury Goods Resale Market

Detailed Analysis

Amid economic uncertainty, consumers are shifting their luxury spending habits towards high-quality, enduring pieces. This trend is reflected in rising average order values and sale prices across generations. "They’re looking to invest in quality more, especially during a time of economic insecurity: For the second year in a row, we’re seeing both average order values and average sale prices rise across all generations, with increases up to 14%."

Context Signals

Inflation and rising cost of living Increased awareness of sustainable consumption Growing popularity of resale platforms

Edge

Increased demand for repair and refurbishment services Growth of circular economy models in the luxury sector Development of new investment vehicles for luxury goods

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