“Most of our advertising partners use creators because they’re platform masters and they understand their audience,” said Karin Tracy, Meta’s head of industry, retail, fashion, luxury. Creators help brands connect to the cultural zeitgeist without seeming fake or forced to younger consumers. Video ads are also crucial to reaching Gen Z consumers, said Tracy.
Article
| Jul 30, 2024
Amazon’s fashion expansion continues with forays into luxury and physical retail: The company’s high-end ambitions are at odds with its emphasis on value and low prices.
Article
| Jun 10, 2022
Which retailers and brands won (or lost) in 2022? Retailers that catered to the budget or luxury ends of the price spectrum did well, while those that dealt in discretionary categories like apparel and electronics saw the biggest drop-off in consumer spending.
Article
| Dec 22, 2022
The top product category for US luxury buyers is footwear, followed by handbags and leather goods, cosmetics and beauty products, and fragrance. Less than one-third of these shoppers bought accessories such as eyewear, jewelry, and watches in the past year.
Article
| Sep 20, 2022
Forecasts
| Jun 25, 2023
Source: EMARKETER Forecast
Marketers are also more likely to define “luxury” goods as designer brands or accessories, while surveyed consumers use it to refer to brand-name home goods or produce. The most desired advertising features are also at odds with consumer appetites.
Article
| Sep 11, 2024
Online fashion resale remains a fast-growing retail channel despite ongoing economic headwinds—and Gen Z is the driving force. How can brands and retailers venturing into fashion resale find success amid pullbacks on discretionary spending?
Report
| Apr 5, 2023
Apparel is the top category among US cross-border buyers. Women and Gen Z lead in apparel purchase consideration. Significantly more female respondents are open to buying clothing, footwear, and accessories from outside their domestic market, per Global-e. Among Gen Z respondents ages 16 to 24, 62% said they would consider purchases in this category.
Report
| May 16, 2023
On the other hand, there’s a significant subset of consumers willing to spend more on premium brands—a dynamic that’s playing out in the grocery aisle as well as in other segments like luxury and apparel. This growing bifurcation means that brands will have to find ways of tailoring their messaging to each group, emphasizing price with cost-conscious customers and quality with wealthier shoppers.
Article
| Apr 25, 2024
As sales growth of luxury goods slows in established markets, brands will expand in emerging regions like the Middle East. There, rising wealth among a young population that’s bringing their spending home will boost demand.
Report
| Apr 19, 2023
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 “drops,” where consumers need to be in the know.
Article
| Apr 11, 2023
They'll still spend spend more on affordable luxuries like clothing, beauty products. Even consumer electronics are poised for a bit of a comeback as we're nearing the start of replenishment cycles. Goods that were purchased during the pandemic in 2020, that's already four plus years ago so people need to replace those goods.
Audio
| Sep 4, 2024
The personal luxury goods sector is riding a wave of high demand in the US and China, buoyed by wealthier consumers who are relatively immune to the impact of price increases. But brands will need to appeal to the rising Gen Z consumer, as well as strengthen loyalty among their most important customers.
Report
| Sep 14, 2022
Chart
| Feb 23, 2024
Source: Deloitte
Brands across the consumer spectrum—from luxury fashion houses like Gucci to fast-food chains such as McDonald’s—have jumped into the fray with their own NFT projects, to varying degrees of success.
Article
| Apr 13, 2022
Brands across the consumer spectrum—from luxury fashion houses like Gucci to fast-food chains such as McDonald’s—have jumped into the fray with their own NFT projects, to varying degrees of success. In the biggest mainstream push to date, Meta CEO Mark Zuckerberg announced that Instagram will integrate NFTs in the coming months—indicating their central role in Meta’s roadmap for metaverse commerce.
Article
| Apr 7, 2022
Luxury shoe brand Jimmy Choo partnered with The RealReal to offer resale for the first time. Athleta launched a resale platform powered by thredUP’s RaaS solution. Poshmark has also opened up its platform to allow large brands to sell directly to its user base, although this segment makes up a small proportion of its overall GMV. Will it work?
Article
| Oct 5, 2022
On the opposite end, the luxury fashion category continues to grow, outpacing total retail. Neiman Marcus Group reported that 70% of its stores saw their highest revenue in 10 years and LVMH Moet Hennessy Louis Vouiton also saw sales jump as demand increased. Unfortunately, this leaves the middle in the lurch as its core audience either spends less or shops elsewhere to save money.
Article
| Dec 15, 2022
Auto, fast food, and beverage companies make for realistic in-game billboards, while entertainment companies, luxury fashion, and sportswear brands can create desirable virtual goods, for example. For brands willing to experiment, gaming can be the gateway to the metaverse.
Report
| Jun 10, 2022
Chart
| Jan 24, 2024
Source: PayPal
While there are signs that US consumers are cooling on full-price luxury, secondhand players like The RealReal and thredUP have an opportunity to attract aspirational shoppers who can’t pay the retail price but still want to purchase name brands. Go further: Check out our US Online Fashion Resale report.
Article
| Aug 9, 2023
While others are struggling, luxury brands are taking a victory lap.
Article
| Aug 2, 2022
Chart
| Jan 18, 2024
Source: Bain & Company; Altagamma
The average price of Ralph Lauren products is up 80% since 2018: The apparel company is focused on elevating its brand perception.
Article
| Aug 3, 2023
Olipop uses TikTok and the promise of gut health to capture Gen Z’s attention, while Crocs leans on Gen Z’s sense of nostalgia and cool collaborations. Coach reinvented itself to appeal to a younger generation of fashion consumers who want to express themselves and GU makes its US debut as Uniqlo’s little sister.
Article
| Aug 23, 2023