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The Black Premium Brand and Luxury Consumer - US - November 2016

The Black Premium Brand and Luxury Consumer - US - November 2016

Black consumers over index vs the general market on buying luxury brands, but it’s not necessarily an exercise simply in conspicuous consumption. Several factors drive luxury brand purchase including the need to have agency of their identity, the desire for elevated status among their peers, and a connection to quality product craftsmanship.

This report examines the following issues:

Lower incomes not a barrier to premium item purchases
Nearly three in 10 Black consumers are heavy luxury buyers
Black consumers prefer the full in-store luxury buying experience vs online shopping
Middle and upper income Black households drive luxury purchases
Self-perception and social validation are the main drivers for buying premium brands


TOC available on request

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