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I think we would see, for example, luxury brands, electric vehicle manufacturers, or even household appliance companies hold off on spending, at least in the short term, while they see how the economy starts shaping up.". Connected TV (CTV) could see spending reductions exceeding 12% under a heavy tariff scenario鈥攖he highest among digital channels.

Automakers slash jobs as EV struggles mount: Ford, GM, and Stellantis face competition from Chinese rivals and slow EV demand, driving steep layoffs and threatening their bottom lines.

Macy鈥檚, Neiman Marcus, Hudson鈥檚 Bay rethink their strategies as department store sales fall: Tactics include using data science to predict trends and improve pricing strategy, doubling down on luxury, and maximizing store appeal with experiential concepts.

Amazon鈥檚 scale makes customer acquisition a lot easier, especially as difficulties in China drive companies, including Est茅e Lauder, to search for growth opportunities closer to home. Roughly 100 million unique beauty shoppers visit Amazon鈥檚 site per month, according to Melis del Rey, the company鈥檚 general manager of US stores, beauty, baby, and beauty technology.

The big picture: Fast-food chains are facing a host of global challenges, including plunging sales in the Middle East as well as weak demand from consumers in China, the US, and other markets.

I think Walmart's focus on its marketplace is going to be higher end goods like luxury goods, handbags, collectibles. It's announced a partnership with StockX, which is a big sneaker resale platform to sell on Walmart. So it's really going for the branded higher end of the resale market. And so there there's not as much competition with the Chinese players.

At the same time, wealthy consumers are fueling a boom in the ultra-luxury market. High-end fashion houses are spending freely on marketing鈥攁nd some brands are being resold at a premium. We expect luxury retail sales will grow 6.7% this year. Brands and retailers that try to be everything to everyone will suffer.

And they still saw a strong growth in China in particular, which has been a very challenged market. But what I'm most excited about, and this is something that's so critical for fashion and luxury brands, is they also announced a new creative director whose name is Heider Ackerman.

The Biden administration wants to quickly advance plans to abolish the import tariff loophole for goods shipped directly to consumers from China, which helps keep prices low, while President-elect Trump has proposed massively higher tariffs on Chinese goods.

In 2024, the UK will still be second only to China (50.1%) in terms of ecommerce penetration, significantly ahead of the US (16.2%), France (10.0%), Germany (8.6%), Spain (10.7%), and Italy (5.9%). Most growth in digital buying is coming from seniors and Gen Z. The number of digital buyers ages 65 and older is rising fast.

And in the ultra-low-cost segment, China-based ecommerce platforms Temu and Shein are increasing their beauty product assortments. But even with more beauty products in more places, many retailers will struggle to gain traction. Growth will be concentrated in a few key channels, according to McKinsey data.

Boost the exclusivity factor for luxury. Luxury fashion brand Telfar has leveraged that same FOMO factor in a very literal sense with livestreams that offer exclusive access to certain products. The brand already releases bags via 鈥渄rops,鈥� where consumers need to be in the know.

On the other hand, wealthy consumers are fueling a boom in the ultra-luxury market. High-end fashion houses are spending freely on marketing鈥攁nd some brands are being resold at a premium. Luxury retail sales will grow 6.7% next year. This confluence of factors leads to mixed results:.

The company may look to draw on the success of Douyin in China, which saw a boost not only in ecommerce sales, but also service sales such as food delivery and travel bookings, as a result of shoppable livestreams.

Fashion resale platform Depop, sneaker sites like StockX and GOAT, and luxury marketplaces Watchfinder build on thriving communities of enthusiasts to drive sales. More Amazon sellers are actively looking for additional sales channels.

鈥淢any platforms have been trying to gain a foothold in social commerce, but they haven鈥檛 been able to replicate what鈥檚 worked in 颁丑颈苍补,鈥� said our analyst Sky Canaves during a recent webinar. The platform that鈥檚 come closest? TikTok, but that鈥檚 been helped by Chinese parent ByteDance, which has been pretty successful at ramping up social commerce in China.

The beauty and cosmetics sector brought in $94.36 billion in consumer spending last year, claiming the title of the fastest-growing retail category in the US, per our The US Beauty Consumer report. With most consumers planning to boost their beauty budgets in 2024, the sector鈥檚 defiance against cautious spending habits is set to continue, driven by the enduring 鈥渓ipstick effect,鈥� the rise of dupes and Chinese-associated ecommerce giants, and more.

That was mainly why I asked that question because I was just curious if that was happening in other areas of luxury as well. Sara Lebow:. Blake, you'll have to let us know when you buy a luxury watch on TikTok Shop up.

Sky Canaves: Luxury is a big one. Luxury is struggling. Home furnishings, that industry is still going to take a while to come back. DIY home improvement is still being put off. So these types of categories, these big splurges. The appliances, maybe larger TVs, and things like that. Sarah Lebow: You mentioned people will spend the money they have.

The focus has shifted from NFT art and collectibles to blockchain-based applications with more practical functions, such as authentication for luxury goods and connecting to loyalty programs and membership perks. However, Porsche continued branding efforts around its luxury collectible NFTs, despite a very niche market consisting of Web3 enthusiasts who can afford to purchase expensive digital art.

So those then tend to be a bit harder to reach outside of the luxury items, but it is a great way to target a more educated and more well off populace, since they are spending a bit more time with the podcast medium and they're a bit more engaged when they're listening to these types of content.

Which of the following luxury brands is ranked highest in consideration among US consumers? A) Louis Vuitton. B) Dior. C) Gucci. D) Burberry. Some 11.9% of US consumers say they would consider making a purchase from Gucci, according to data collected by YouGov between January 1 and April 16, 2025.