Archive for the ‘American Express’ Category

2011 Spend Sights Special Report: Global Luxury Fashion Spending

September 29, 2011 Comments off

2011 Spend Sights Special Report: Global Luxury Fashion Spending (PDF)
Source: American Express

This Spend Sights Special Report focuses on US and global spending for the luxury apparel & accessories category during the first half of 2011, and draws comparison against the same period of 2010.

Since the recession, a group of “fashion enthusiasts” – those making up the top 5% of spend on apparel & accessories – have led spend growth across all categories of luxury fashion retail globally. In 2011, however, the remaining “average” consumers are making notable spend increases while the enthusiast group pulls back, revealing a compelling catch-up trend.

In fact, average men in the US spent 156% more on premium luxury fashion in 1H 2011 over last year, followed by women at 125%, whereas male fashion enthusiasts spent 11% less, and their female counterparts had no change for the same period in the same category. Globally, enthusiasts decreased spend on highend luxury apparel & accessories across key fashion capitals, including in the UK by 14%; in France by 10%; in Japan by 22%; in Australia by 14%; and in Hong Kong by 1%. In contrast, their average consumer counterparts increased luxury fashion spend by 27%; 13%; 26%; 1% and 3%, respectively.

The following pages include additional insights about how enthusiasts and average fashion consumers are changing spend in the US and globally.


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