Luxury Lifestyle

The US luxury market has taken a hit since the recession - brands slashed prices to make luxury “accessible”, depreciating their value. However, while growth has been slow, the market is showing signs of improvement. Brands are moving back towards exclusivity and attracting a much larger tourist population. There is a clear correlation, for example, between increased Chinese tourism and American luxury sales. The market that was estimated at US$77 billion in 2014 has also expanded to luxury travel as consumers are now more interested in “experiences”. However, the rise of global terrorism makes this segment of the market more volatile.