For the love of luxury

The renaissance of luxury retail in the United States

September 22, 2022
  • Ebere Anokute

After a brief recession, as was observed across almost every retail category, the luxury industry was one of the first to bounce back. Luxury sales in the U.S. rose by 8.5% in 2021 to reach over $64.1 billion and are forecast to eclipse pre-pandemic levels by the end of 2022. While the definition of luxury remains ever-evolving and somewhat nebulous, there is nothing unclear about the way the sector has performed since the onset of the COVID-19 pandemic. Luxury retailers have reinvested these gains into their businesses in various ways, all while never straying too far from the crux of the luxury business model: an unforgettable and unique in-store experience.

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