Dive into the top consumer trends in luxury retail. From spending habits to lifestyle changes, here’s what shaped 2024.
Content Highlights:
Key Trends:
Consumers prioritized experiences over products, with luxury spending remaining relatively flat as they favored travel and social events.
The beauty sector, particularly fragrances, performed well as consumers gravitated toward "small indulgences."
Tech in Shopping:
TikTok Shop became a significant platform for shopping, especially in fashion and beauty, due to its user-friendly interface and seamless integration.
Cultural Shifts:
Skepticism among consumers increased, leading them to seek more trusted sources like Reddit and Substack, highlighting the importance of authenticity in branding.
Consumer preferences in 2024 shaped the future of luxury. What trends will dominate 2025? Join us tomorrow for the next blog in our Countdown to 2025 series. Sign up for our newsletter and follow Luxury Learnings on LinkedIn, Instagram and Tiktok to stay informed and inspired.
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