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鈥淭here's a big change in the luxury market. The consumers are still there, but they're being more selective about what they buy and when they buy it,鈥� our analyst Sky Canaves said on an episode of the 鈥淏ehind the Numbers: Reimagining Retail鈥� podcast. Expanding into new markets and raising prices isn鈥檛 always an option for luxury brands, but there are other areas of opportunity. Here are three ways luxury brands can fuel discovery, spark engagement, and develop loyalty.

Department store websites and apps lead. Respondents to our survey were more likely to have made an online purchase than an offline one at department stores, off-price retailers, and brand-owned stores鈥攖he top three types of retailers for personal luxury goods

Luxury spending in the US is returning to historical norms: Shoppers are increasingly focused on saving money and travel.

While mid-tier retailers like Bed Bath & Beyond and Kohl鈥檚 struggle, discount and luxury retailers are seeing success as some consumers trade down amid inflation while others splurge to treat themselves amid tough times, respectively. But these polar opposites are using the same tools and tactics to attract new customers and retain current ones.

Worldwide personal luxury sales will grow from $415.45 billion in 2023 to $499.59 billion in 2027, but growth is slowing, according to our forecast.

57% of US adults have used eBay to purchase secondhand luxury fashion and accessories online in the past year, according to March 2024 data from CivicScience.

Saks launches retail media network amid slowing sales: The ecommerce retailer is billing its offering as a unique opportunity to connect with luxury shoppers.

Costco鈥檚 fiscal Q4 earnings report, with total revenues of $78.94 billion, offers a glimpse into shifting consumer priorities: its shoppers are now favoring essentials, opting for groceries and gasoline, while luxury and other discretionary items have taken a backseat.

Ralph Lauren and Tapestry sidestep luxury slowdown: The two companies beat expectations thanks to brand elevation efforts that resulted in higher AUR.

Luxury ecommerce is a tough place to play: That鈥檚 why Cartier owner Richemont is selling Yoox Net-A-Porter to Mytheresa鈥攐ne of the few platforms that has found sustained success.

The brand is looking to capitalize on its popularity among Gen Zers with a curated Urban Outfitters store experience, as well as reach more affluent shoppers browsing the designer selections at luxury department store Printemps. At the same time, it鈥檚 working more closely with long-time retail partners like Foot Locker, Dick鈥檚 Sporting Goods, and JD Sports.

Pricing and platform will be key: Samsung can rival Apple鈥檚 Vision Pro on display tech and undercut it on cost, positioning itself between Meta鈥檚 budget gear and Apple鈥檚 luxury tier. By launching in 2025, Samsung can take what it鈥檚 learned from Meta鈥檚 and Apple鈥檚 setbacks and differentiate its devices.

Half of its US turnover is made domestically; most of the products it imports into the country are luxury goods, giving L鈥橭r茅al more pricing power to offset higher costs. L鈥橭r茅al has a healthy amount of inventory to work with for the first half of the year, giving it some breathing room as it鈥攁nd every other company鈥攕eeks more clarity on tariffs.

What do you get when you cross a $35 billion ad platform with a 160 million viewer streaming service? A snapshot of Amazon鈥檚 US retail media connected TV (CTV) potential. Luxury brand Movado is leveraging that potential to push video campaigns for Amazon Prime and Freevee viewers.

鈥淟ittle treat鈥� culture has taken over TikTok. The hashtag #littletreat has amassed 41.4 million views, and video after video shows users justifying their small purchases because they 鈥渄eserve a little treat.鈥� But little treats can add up. So Gen Z and millennial consumers are using rewards apps to pay for their little luxuries, according to Wes Schroll, CEO of the rewards app Fetch.

Consumers continue to spend big on restaurants, gym memberships: Despite inflationary pressures, shoppers are willing to invest in affordable luxuries and wellness.

LVMH expands industry influence with Moncler investment: The deal would give the luxury conglomerate a board seat, as well as a piece of a brand that successfully weathered the downturn in China鈥檚 luxury market.

Chanel purchases Paris property at 42 Avenue Montaigne: The French designer snapped up the building one block from the Champs-脡lys茅es as luxury competitors race to claim prime real estate.

LVMH fell short in Q3 as Chinese consumers鈥� pessimism hurt sales: The luxury conglomerate missed revenue expectations as economic uncertainty caused shoppers to pull back.

eBay鈥檚 consignment business is its latest play for luxury shoppers: The marketplace is betting on luxury to turn its fortunes around.

Our take: Not all car buyers want every feature and luxury鈥攕ome want a vehicle just to get from location to location without spending a lot of money on a truck or fuel. Small trucks fit that bill. However, relying on EV incentives to drop vehicle price tags, like Slate is betting on, is a dicey move considering those rebates might not be available by the end of 2026.

鈥淔辞谤 luxury brands, highlighting quality and value will be especially important for maintaining consumer trust amidst economic uncertainty.鈥�. This was originally featured in the Retail Daily newsletter. For more retail insights, statistics, and trends, subscribe here.

Beauty products represent an affordable luxury for many consumers, even as they trade down or cut spending in other areas. Key drivers of cosmetics and beauty sales growth include the following:. Beauty consumption has gotten an upgrade. The pandemic ushered in a lasting consumer focus on wellness and self-care, and more brands are expanding into the category.