New York -- Survey results released Tuesday by Accenture found that half of U.S. consumers are likely to make a small luxury purchase in the next six months, including 53% who are likely to purchase specialty food or drinks, 48% to purchase luxury clothing and 48% to purchase luxury personal care products.
According to the Accenture Luxury Shopping Survey, which polled more than 2,000 U.S. adult consumers, splurging on a small luxury is the number one reason consumers buy specialty food or drinks, selected by 53% of those who expect to make these purchases in the coming months.
Similarly, high-low fashion is the top reason shoppers shop luxury apparel. More than half (57%) of those who intend to purchase luxury apparel will mix a few luxury items into a wardrobe of more affordable clothing.
“As consumers show an increasing willingness to splurge on luxury, retailers and brands can build loyalty by offering a strategic selection of smaller-ticket luxury items to complement their more significant products,” said Tom Jacobson, managing director of the Accenture Pricing & Profit Optimization practice.
In each of the three small-product categories polled, consumers indicated a strong preference for brick-and-mortar stores when shopping for luxury goods: