Consumers Starting to Open Their Pocketbooks Again, But Mostly for Small Luxuries

Consumers Starting to Open Their Pocketbooks Again, But Mostly for Small Luxuries Small luxury goods entice shoppers to splurge 青 个 香 个 个个 50% of consumers are likely to make a small luxury purchase in the next 6 months OF THOSE: 53% 48% 48% are likely to purchase specialty will purchase luxury clothing will purchase luxury personal care products food or drinks 53% who buy specialty food/drinks cite splurging on a "small luxury" as the No. 1 reason 75% of consumers say quality is among the most important factors when buying luxury goods 69% said price is among the most important factors 57% of those who purchase luxury apparel are adding luxury items to their regular, more affordable wardrobe Consumers prefer brick and mortar when shopping for luxury goods prefer to shop in a physical store 36% 19% prefer to shop online 20% showrooming |' sh ö,roõm -ing| of consumers surveyed have showroomed luxury goods. To view a product in a store, then search online to purchase the product at the best price. 49% of "showroomers" say their likelihood to purchase a luxury good has increased in the past year 30% 5% of those 65 and older have of 18-34 year olds have showroomed luxury products showroomed luxury products The Gender Difference 49% of men's purchases 33% are luxury items of men say they can't afford higher prices of luxury goods YET... 61% of women's purchases 39% are luxury items of women say they can't afford higher prices of luxury goods In the next 12 months: 40% 15% of 18-24 year olds say they're likely to purchase luxury goods of 55-64 year olds say they're likely to purchase luxury goods 14% 9% of 45-54 year olds say they're likely to purchase luxury goods of those aged 65 or older say they're likely to purchase luxury goods As consumers begin opening their wallets again for luxury goods, retailers and brands can build loyalty by offering a strategic selection of smaller-ticket luxury items among their products. But retailers cannot rest on the strength of name alone. They should verify that their products exceed expectations or risk losing customers to the competition. For more information, please visit: www.accenture.com/luxuryshoppingsurvey High performance. Delivered. accenture consulting | technology | outsourcing *survey of more than 2,000 U.S. adult consumers All rights reserved ® Accenture 2012. Accenture, its logo, and Accenture High Performance Delivered are trademarks of Accenture. Consumers Starting to Open Their Pocketbooks Again, But Mostly for Small Luxuries Small luxury goods entice shoppers to splurge 青 个 香 个 个个 50% of consumers are likely to make a small luxury purchase in the next 6 months OF THOSE: 53% 48% 48% are likely to purchase specialty will purchase luxury clothing will purchase luxury personal care products food or drinks 53% who buy specialty food/drinks cite splurging on a "small luxury" as the No. 1 reason 75% of consumers say quality is among the most important factors when buying luxury goods 69% said price is among the most important factors 57% of those who purchase luxury apparel are adding luxury items to their regular, more affordable wardrobe Consumers prefer brick and mortar when shopping for luxury goods prefer to shop in a physical store 36% 19% prefer to shop online 20% showrooming |' sh ö,roõm -ing| of consumers surveyed have showroomed luxury goods. To view a product in a store, then search online to purchase the product at the best price. 49% of "showroomers" say their likelihood to purchase a luxury good has increased in the past year 30% 5% of those 65 and older have of 18-34 year olds have showroomed luxury products showroomed luxury products The Gender Difference 49% of men's purchases 33% are luxury items of men say they can't afford higher prices of luxury goods YET... 61% of women's purchases 39% are luxury items of women say they can't afford higher prices of luxury goods In the next 12 months: 40% 15% of 18-24 year olds say they're likely to purchase luxury goods of 55-64 year olds say they're likely to purchase luxury goods 14% 9% of 45-54 year olds say they're likely to purchase luxury goods of those aged 65 or older say they're likely to purchase luxury goods As consumers begin opening their wallets again for luxury goods, retailers and brands can build loyalty by offering a strategic selection of smaller-ticket luxury items among their products. But retailers cannot rest on the strength of name alone. They should verify that their products exceed expectations or risk losing customers to the competition. For more information, please visit: www.accenture.com/luxuryshoppingsurvey High performance. Delivered. accenture consulting | technology | outsourcing *survey of more than 2,000 U.S. adult consumers All rights reserved ® Accenture 2012. Accenture, its logo, and Accenture High Performance Delivered are trademarks of Accenture.