Many luxury consumers are interested in shopping via social channels

Social commerce has the potential to go mainstream for luxury. More than 40% of respondents overall said they had used or were interested in using social media channels to buy luxury products. The share was markedly higher among 18- to 34-year-olds, at 57.4%. While a number of premium beauty brands have started selling via TikTok Shop since it launched in the US in September 2023, luxury fashion labels have been hesitant to set up in-app storefronts and use the platform for more than marketing.

Senior luxury buyers are a key audience for livestreaming. More than 31% of respondents ages 65 and older had either used or were interested in livestreaming to make a luxury purchase, higher than any other group and well above the average of 23.4%. Older shoppers have been the target audience of live shopping TV channels such as HSN (formerly Home Shopping Network) and QVC, both of which sell luxury goods, and may thus be more willing to engage with similar content on digital platforms.

Younger luxury consumers are generally more open to using other emerging shopping tech. The skew was most pronounced for cutting-edge applications like virtual goods and cryptocurrency payments.

Read the full report, US Luxury Consumers and Their Path to Purchase.