65% of luxury consumers intend to increase their spending in 2023.


Increase in budget, customer aspirations, attractiveness of Web3, distribution channels… Kantar and Altiant have published the “Territories of Desires” report dedicated to consumer attitudes and customer relations towards luxury in 2023.

Luxury consumers should increase their spending, especially in China.

The studies differ but respond to each other. While a Bain & Company and Altagamma report explains that sales of luxury personal products could increase by +3% to +8% in 2023 depending on the attractiveness of economic markets, Kantar and Altiant have looked into the buying behaviors of affluent consumers next year. The two entities interviewed a panel of men and women between the ages of 18 and 60 among the top 5% of annual earners – in the United States, China, Germany, France, Italy and the United Kingdom. – and having purchased at least one luxury item in the past year.

The analysis, called “Territories of Desires”, first made the state of the panel’s consumption this year. Respondents reported purchasing, on average, items within six product and service categories — out of nine — for an overall spend of $43,000 in 2022.

A demand that is not ready to weaken in 2023: 65% of respondents indicated their intention to increase their spending of luxury goods and services in at least one of the flagship sectors of the premium industry. Among the activities to benefit the most from this trend are the hotel industry, gourmet restaurants, spas and beauty salons, ready-to-wear and leather goods. On average, 32% of the surveyed population said they wanted to increase their high-end spending across all divisions. This percentage could also rise to 39% in China.

purchase intent
©Kantar x Altiant

The desires of luxury customers.

In addition to the increase in purchase intentions, the report highlighted the six transversal aspirations of respondents. The discovery is the predominant desire revealed by the survey: 29% of respondents said they like “learning and experiencing new things”. Follows theWarning and the need to be noticed – 18% -; I’exposure social and professional status – 15% -; I’exclusivity related to discretion, rarity and avoidance of ostentation – 14% -; I’legacy, know-how and timelessness – 12% -; and, finally, theauthenticity around commitment and values ​​- 12%. So many consumer expectations that imply “different challenges for luxury brands”described the study.

    The place of digital in the buying process and experience.

    If these various desires reflect many challenges for the houses, the latter have almost all integrated Web3 into their growth strategy and community loyalty. Witness the latest incubation initiatives of the L’Oréal group and the phygital products signed Rimowa.

    Major societal trends for the past few years, NFTs, the metaverse and cryptocurrency have been known by practically all customers. Kantar and Altiant nevertheless revealed that the use of digital currencies was more adopted by people with expectations of discovery, while protagonists wishing to attract attention and have influence are more likely to intrude into the metaverse. As for NFTs, their attractiveness is based more on customers seeking to enhance their status.

    luxury shopping journey
    ©Kantar x Altiant

    On the distribution channel side, the report forecasts an increase in physical sales +26%. “Luxury consumers value: rare moments in store, holistic experiences (with consistency of all dimensions in the relationship to the brand) and artistic, festive or educational events organized by brands for VIP customers. said Adrien Germain-Thomas​, Head of Commerce​ and eCommerce​ at Kantar Insights. While physical locations are preferred for making purchases, the online should not lose its luster through an increase in expenditure of +32% in 2023.


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