PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1779725
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1779725
United States Luxury Goods Market, By Product Type; By Distribution Channel; By End User, Trend Analysis, Competitive Landscape & Forecast, 2019-2031
United States Luxury Goods Market Size Set to Touch Whopping USD 100 Billion by 2031
United States Luxury Goods Market is booming primarily due to growing brand awareness, the enduring appeal of luxury as a status symbol, high disposable incomes, and the growing demand for personalization and customization.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated United States Luxury Goods Market size by value at USD 68.97 billion in 2024. During the forecast period between 2025 and 2031, BlueWeave expects United States Luxury Goods Market size to expand at a significant CAGR of 5.41% reaching a value of USD 99.74 billion by 2031. The growth of Luxury Goods Market in United States is propelled by rising disposable incomes and a steadily expanding affluent consumer base, both of which significantly boost demand for high-end, exclusive products. The increasing reach of social media and digital platforms plays a pivotal role, not only by amplifying brand visibility but also by making luxury goods more accessible through sophisticated e-commerce channels. Furthermore, a discernible shift in consumer preferences towards experiential luxury and personalized products is reshaping the market's dynamics. Complementary to these trends, strategic partnerships and collaborations with renowned designers, artists, and celebrities are consistently fostering innovation and exclusivity, thereby further strengthening the allure of luxury brands. Collectively, these influential factors are cultivating sustained growth and dynamism within the United States Luxury Goods Market.
Women's Segment Holds Largest Share of US Luxury Goods Market
The women's segment dominates United States Luxury Goods Market by end user, driven primarily by the rising wealth and financial independence of women worldwide. For example, Forbes' 2023 list included 337 billionaire women, up from 327 in 2022, reflecting growing purchasing power in this demographic. This increase in wealth has fueled strong demand for luxury products tailored to women. Additionally, women's heightened focus on personal style and self-expression has further boosted the market. The influence of social media platforms also plays a key role, inspiring women and providing a space to display their fashion choices, thereby amplifying demand for luxury fashion items.
Impact of Escalating Geopolitical Tensions on United States Luxury Goods Market
Intensifying geopolitical tensions could have a multifaceted impact on United States Luxury Goods Market. Such tensions often lead to economic uncertainty, affecting consumer confidence and discretionary spending on high-end products. Trade restrictions, tariffs, and sanctions may disrupt supply chains and increase production costs for luxury brands, limiting product availability and raising prices. Additionally, geopolitical conflicts can hinder international travel and tourism, reducing the influx of affluent foreign buyers who contribute substantially to luxury goods sales. Furthermore, fluctuating currency values and market volatility may impact investment and expansion plans within the sector, ultimately slowing market growth during periods of heightened geopolitical instability.
Competitive Landscape
United States Luxury Goods Market is highly fragmented, with numerous players serving the market. Major companies dominating the market include Kering, The Swatch Group Ltd, Giorgio Armani S.p.A., LVMH Moet Hennessy Louis Vuitton, and PVH Corp. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge over their competitors in United States Luxury Goods Market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and United States Luxury Goods Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in United States Luxury Goods Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. United States Luxury Goods Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Drivers
- 3.2.1.1. Brand Consciousness & Status Symbol
- 3.2.1.2. High Disposable Income
- 3.2.1.3. Personalization & Customization Trends
- 3.2.2. Restraints
- 3.2.2.1. Economic Fluctuations
- 3.2.2.2. Counterfeit Market
- 3.2.3. Opportunities
- 3.2.3.1. Sustainable & Ethical Luxury
- 3.2.3.2. Digital Innovations
- 3.2.4. Challenges
- 3.2.4.1. Intense Competition
- 3.2.4.2. Changing Consumer Preferences
- 3.2.1. Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. United States Luxury Goods Market: Marketing Strategies
5. United States Luxury Goods Market: Pricing Analysis
6. United States Luxury Goods Market Overview
- 6.1. Market Size & Forecast, 2019-2031
- 6.1.1. By Value (USD Billion)
- 6.2. Market Share & Forecast
- 6.2.1. By Product Type
- 6.2.1.1. Apparel & Footwear
- 6.2.1.2. Accessories
- 6.2.1.3. Cosmetics & Fragrances
- 6.2.1.4. Home & Living
- 6.2.1.5. Wines & Spirits
- 6.2.2. By Distribution Channel
- 6.2.2.1. Offline Retail
- 6.2.2.2. Online Retail
- 6.2.3. By End User
- 6.2.3.1. Men
- 6.2.3.2. Women
- 6.2.3.3. Unisex
- 6.2.3.4. Children
- 6.2.1. By Product Type
7. Competitive Landscape
- 7.1. List of Key Players and Their Offerings
- 7.2. United States Luxury Goods Market Share Analysis, 2024
- 7.2.1. Competitive Benchmarking, By Operating Parameters
- 7.3. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
8. Impact of Escalating Geopolitical Tensions on United States Luxury Goods Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 9.1. Kering
- 9.2. The Swatch Group Ltd
- 9.3. Giorgio Armani S.p.A.
- 9.4. LVMH Moet Hennessy Louis Vuitton
- 9.5. PVH Corp.
- 9.6. Other Prominent Players
10. Key Strategic Recommendations
11. Research Methodology
- 11.1. Qualitative Research
- 11.1.1. Primary & Secondary Research
- 11.2. Quantitative Research
- 11.3. Market Breakdown & Data Triangulation
- 11.3.1. Secondary Research
- 11.3.2. Primary Research
- 11.4. Breakdown of Primary Research Respondents, By Region
- 11.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
- Figure 1 United States Luxury Goods Market Segmentation
- Figure 2 United States Luxury Goods Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2024
- Figure 4 United States Luxury Goods Market Size, By Value (USD Billion), 2019-2031
- Figure 5 United States Luxury Goods Market Share, By Product Type, By Value, 2019-2031
- Figure 6 United States Luxury Goods Market Share, By Distribution Channel, By Value, 2019-2031
- Figure 7 United States Luxury Goods Market Share, By End User, By Value, 2019-2031
- Figure 8 United States Luxury Goods Market Share, By Product Type, By Value, 2019-2031
- Figure 9 United States Luxury Goods Market Share, By Distribution Channel, By Value, 2019-2031
- Figure 7 United States Luxury Goods Market Share, By End User, By Value, 2019-2031
List of Tables
- Table 1 United States Luxury Goods Market Size, By Value (USD Billion), 2019-2031
- Table 2 United States Luxury Goods Market Share, By Product Type , By Value, 2019-2031
- Table 3 United States Luxury Goods Market Share, By Distribution Channel, By Value, 2019-2031
- Table 4 United States Luxury Goods Market Share, By End User, By Value, 2019-2031
- Table 5 United States Luxury Goods Market Share, By Product Type , By Value, 2019-2031
- Table 6 United States Luxury Goods Market Share, By Distribution Channel, By Value, 2019-2031
- Table 7 United States Luxury Goods Market Share, By End User, By Value, 2019-2031
- Table 8 Kering Company Overview
- Table 9 Kering Financial Overview
- Table 10 The Swatch Group Ltd Company Overview
- Table 11 The Swatch Group Ltd Financial Overview
- Table 12 Giorgio Armani S.p.A. Company Overview
- Table 13 Giorgio Armani S.p.A. Financial Overview
- Table 14 LVMH Moet Hennessy Louis Vuitton Company Overview
- Table 15 LVMH Moet Hennessy Louis Vuitton Financial Overview
- Table 16 PVH Corp. Company Overview
- Table 17 PVH Corp. Financial Overview
