2025年安永奢侈品客户指数：赢回向往型奢侈品客户

EY 2025 Luxury Client Index 17 33 53 60 62 We wanted to comprehend the real state of themarket today. What matters to, and influences,aspiring luxury clients when purchasing luxury?What meaning do they put behind overusedterms such as “quality,” “experience” and“sustainability”? How satisfied are they with thecurrent price/value paradigm, and how do theybehave when they feel maisons are no longeroffering true value? What desire do they have forluxury, and what level of confidence do they holdin any future luxury spend? How satisfied are theywith the in-store and online experiences? For decades, the luxury sector has enjoyeddouble-digit growth, reaching a global valueof €363 billion (Reuters 2025), in part due towealth expansion in new markets. But in the faceof an economic downturn, and more subduedspending from markets such as Mainland China,the sector as a whole has been seeing a significantslowdown, sparking profit warnings across theindustry and a US$240 billion fall in Europeanluxury shares over the course of just a few months(Bloomberg 2024). Sales reports indicate that wealthy clients aremaintaining or even increasing their spend withluxury maisons (brands). Maisons’ struggleto maintain sales often comes directly from adecrease in new client acquisition and a decreasein spend from the rest of their current clients.This could be a reflection of tougher economicconditions, with global growth forecasts reviseddownward (OECD 2025), along with the possibilitythat price elasticity has now reached a ceiling. Going beyond current status, we explore thedrivers of satisfaction and a new revenuegeneration path for luxury maisons, fromimproved purchase journeys to the developmentof new offers, including luxury experiences andthe build-out of a certified pre-owned businessmodel. We highlight generational, geographic andspend variations to create a complete overviewthat supports business leaders across roles. The luxury paradox still stands: The moredesirable a brand becomes, the more sales grow,the more people wear brands, the less desirablethe brand becomes. In this complex context, whatcan brands do to retain client loyalty? Luxury maisons are at a crossroads, and thisdifficult period may be just the right moment tochallenge commonly accepted beliefs, strengthenluxury essentials and move toward businessmodels that are not only revenue-generating butalso truly sustainable. With a wealth of experience supporting thetransformation of industry-leading luxurycompanies, a new Luxury Client Index is beinglaunched as an EY initiative. This year, we focus onthe purchase drivers for aspirational luxury clients,to help maisons navigate the current marketslowdown by providing a clear understandingof the aspirations of aspiring luxury clients andidentifying actionable levers to win them back. Rachel DaydouPartner, Luxury AI & Sustainability Hub,EY Advisory France David NaïmEY Europe West Managing PartnerConsumer & Health Industries Executive summary What do luxury clients really want? It’s a critical question at a time when maisons are facing falling sales and clients in particular are struggling tojustify premium purchases. Maisons have increased prices dramatically over the past few years, to the point where even those who can easily afforda luxury item are thinking twice about whether it truly represents value for money. Looking beyond pure spending power, we wanted to understand the deeper values and desires that influence luxury consumption and consider theways in which maisons may be able to strengthen their offers and their relationships with clients. In spring 2025, we conducted original researchto delve into these questions by connecting with clients across multiple geographies and generations, and creating five distinct aspirational luxuryclient segments that are highlighted in this report. Quality above all Expanding the brand universe What we found is that three-quarters of aspiring clientsare prioritizing quality above all else. Owning somethingof quality is more important than exclusivity, celebrityendorsement, personalization and even price. Thismeans that clients will be looking closely at relatedelements, such as craftsmanship and brand heritage.There is also evidence that clients would like to seesustainable principles embedded at a deeper level,including the use of more innovative materials and anassurance of the kind of product caliber and longevitythat builds lasting brand relationships. It’s clear that aspirational clients need to be cultivated, with brand engagement andexperiences that make them feel part of the brand journey and that inculcate the kindof loyalty that leads to repeat purchases. Right now, that is only happening selectively.Two-thirds of aspirational clients spending under €5,000 per year are not being offereda brand experience along with their purchase, even though 83% indicated that suchexperiences would make them purchase from a brand again. At the same time, th