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Conventional wisdom holds that when the economy flounders, the well-heeled don’t skip a beat and keep spending while everyone else cuts corners and pulls back.But early indications are that when, rather than if, the economy falters, the high-earning affluent will share in the pain. And their pain will roll over onto the luxury brands that […]
The personal luxury goods market boomed in 2022, reaching an unprecedented $383 billion, up 26% from 2019 and 22% from 2021 at current exchange rates, according to Bain-Altagamma Luxury Study.Much of the growth came from its two largest markets, The Americas ($123 billion and up 25%) and Europe ($102 billion, up 27%).However, China, the luxury […]
Over the last three years, the luxury market has experienced a whirlwind of change. In the lead-up to the pandemic, the personal luxury goods market grew 7 percent in 2019, reaching $300 billion globally. Then in 2020, it suffered a sharp decline, dropping an unprecedented 22 percent to $235 billion, followed by a remarkable rebound […]
Throughout the critical holiday season of November and December, the National Retail Federation predicts retail takings will total between $942.6 to $960.4 billion, a 6% to 8% increase over last year. This estimate excludes spending at automobile dealers, gasoline stations and restaurants.The macro estimate includes all retail expenditures for gifts and other holiday-related purchases, plus […]
Peloton, the maker of high-end, digitally-enhanced exercise equipment that enjoyed a bump during the pandemic only to crash spectacularly afterwards, just announced it is laying off 500 employees, about 12 percent of its existing workforce following three rounds of layoffs earlier this year.Store closures accounted for most of the last round in June, but the […]
Speaker, author, and market researcher Pamela N. Danziger is internationally recognized for her expertise on the world’s most influential consumers: the American Affluent. As founder of Unity Marketing, Pam leads with research to provide brands with actionable insights into the minds of their most profitable customers.
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