Holiday Shopping and Luxury Retail Trends - Where We Buy #312

Hosts James Cook, Keisha Virtue, and Saul Lua dive into recent insights from two reports on holiday shopping and luxury retail trends. With inflation concerns lingering, the discussion reveals that holiday spending is anticipated to rise by 31.7% this year, with a focus on experiences such as dining out, movies, and visits to attractions. Shoppers are embracing in-store visits more, particularly to malls and department stores, while social media's role in gift planning has intensified, with platforms like Facebook and Instagram leading the charge. The conversation also covers luxury brand strategies, highlighting that new store openings are concentrated in malls and prime urban retail corridors, with New York City being a key focus area. Despite a slowing growth trend, the luxury market remains significant, driven by Gen Z and Millennials' increasing spending power and interest in unique, personalized experiences.

James Cook, Keisha Virtue and Saul Lua are retail researchers for JLL. 

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