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Luxury: The new consumer trends of the French people

Luxury: The new consumer trends of the French people

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The international polling and market research company YouGov recently published a new study on the Luxury Goods sector. This study analysed the spending of consumers aged over 18 last year during the month of February 2020, as well as their purchasing intentions for the coming year.

 

It is important to note that in the face of the pandemic, the luxury industry has certainly suffered many losses, but has shown impressive resilience. The latter can thank its consumers who have not abandoned their desire for prestige and high-value goods, despite the need to make savings.

 

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Indeed, according to the study, 41% of purchases of luxury goods were made as a personal purchase, and 34% as a gift, purchases of great value since between 500 and 2500 euros were spent (28% compared to 8% of the national average).

 

It has been analysed that consumers prefer to turn to luxury products because they provide better quality (18% against 5%). Others, on the other hand, believe that it represents a beautiful gift and reward for others (19% against 6%). And finally, a proportion of consumers consider that buying this type of item gives them a feeling of well-being (14% against 5%).

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