WHAT'S TRENDING IN LUXURY SPENDING
As a younger generation inherits wealth, consumers crave experiences, personalization, and authenticity above anything else.
Luxury spending trends are evolving rapidly, shaped by shifting consumer values, global economic dynamics, and the growing influence of the digitally savvy younger generations. No longer motivated solely by status symbols or exclusivity, today’s high-net-worth individuals and aspirational buyers alike are increasingly prioritizing personalization and purpose in their purchases—whether that means investing in timeless craftsmanship, immersive travel, or experience-driven pursuits.
GROWTH OF ONLINE PURCHASING POWER
As one of the most enduring effects of the Covid-19 lockdown, buyers have become more comfortable purchasing with more frequency and at higher values online, with the digital sites supporting these endeavors having quickly become more sophisticated, personalized, and secure.
From 2014 to 2024, Christie’s New York saw a 248% increase in new buyers participating in an auction digitally (in live and online auctions). For in-person auctions across all luxury categories, the first half of 2025 saw a 30% increase year over year, with buyers having successfully spent $52 million in luxury goods via online channels in the first half of 2025, a 133% increase from the same period in 2024.
“We’re seeing clients underbidding and buying jewels and watches in excess of a million dollars via online platforms, something we would have never envisioned 15 years ago,” says Kimberly Miller, Christie’s Senior Vice President and Regional Managing Director of the Luxury Division.
ART WORLD 'RECALIBRATION'
In the art world, the shift toward online purchasing is happening out of necessity, as a raft of longstanding galleries have closed around the world over the past year.
“The art market is in the midst of a transformation. While headlines often focus on contraction at the top or the wave of gallery closures, I see this period less as decline and more as recalibration,” says Arushi Kapoor, an art advisor and founder of The Agency Art House. “Many gallerists are pivoting toward project-based models, online platforms, or collaborative frameworks that are more nimble and sustainable. This is not the end of the gallery system, but a reminder that it must evolve to meet a new generation of collectors and cultural consumers.”
GENERATIONAL SHIFTS
According to Kapoor, perhaps no field is being affected by this more than the art world.
“This shift is changing the way art is collected. Younger generations are less interested in trophy works bought only for prestige and more focused on pieces that reflect identity, values, and cultural relevance,” she says. “They discover art through digital platforms, Instagram, and transparent online sales, and they want to support diverse voices, female artists, artists of color, and emerging names.”
With older collectors increasingly looking to downsize or pass on their estates, notes Kapoor, more important works are entering the market, creating opportunities for new buyers to access both blue-chip and undervalued pieces.
“This moment represents a unique chance to build meaningful collections while prices and availability are more favorable.” At The Agency Art House, their staging services help bridge the gap by placing artworks in luxury homes and architectural spaces, allowing collectors to see how pieces live and breathe in real environments. “The art world is not shrinking,” she says, “it’s evolving and for thoughtful collectors, this generational shift is the perfect moment to enter, expand, and shape collections for the future.”
JEWELRY AND WATCHES
WINE
ART
HANDBAGS
JEWELRY: THE FIGHT TO REAL VALUE
In a climate of economic uncertainty, jewelry represents a tangible asset. As such, gold has hit record highs in 2025, reflecting demand for a secure investment amid geopolitical tensions. Jewelry trade group Rapaport forecasts the global estate and vintage jewelry retail market to reach $5.2 billion by 2031, up from $4.4 billion in 2023.
“Collectors today aren’t just buying jewelry for adornment; they’re also buying it as an investment to pass down through generations,” says Tyler Moradof, principal at Yafa Signed Jewels. “Collectors view rare, signed high jewelry not only as adornment, but as resilient assets that hold cultural and financial value, carrying provenance and scarcity that can outperform more volatile markets.”
Christopher Olshan, chairman and CEO of The Luxury Council, believes that a growing consensus is forming among luxury customers—they aren’t just buying jewelry, they’re buying insurance against uncertainty. “Van Cleef pieces get passed down through generations,” he says. “Logo handbags get dated in three seasons.”
According to Olshan, jewelry is maintaining a 5% compound annual growth rate (CAGR) while other luxury goods like apparel and handbags are contracting. “When markets get volatile, smart money flows to assets that hold value,” he explains. “A Cartier watch isn’t just jewelry—it’s a store of value you can wear to dinner.”
LUXURY SHOPPING GRAVITATES FROM THE SHOWROOM TO THE WEBSITE
Luxury retail growth has been slowing, and countless brands are shifting their retail approach from pure product sales to experiential touchpoints. Flagship stores are now doubling as cultural hubs with restaurants, cafes, and VIP lounges.
“Retail is no longer about selling; it’s about belonging,” says Marco Credendino, CEO and co-founder of Artemest, an online destination for Italian home decor. “Culture, hospitality, and experiences that customers cannot replicate” is what people are looking for, he says.
According to Jeff Klein, Chief Financial Officer at luxury bedding company Saatva, one of the biggest trends in luxury shopping today revolves around digital integration and the use of technology.
“Successful brands are those that are digitally native or digitally savvy, offering consumers a seamless experience between their digital and brick-and-mortar touchpoints,” he says. “In fact, [according to McKinsey,] 80% of luxury sales are now digitally influenced.”
As a digitally native company, Saatva, celebrating its 15th anniversary in 2025, was one of the first brands to sell luxury mattresses online, and it prominently displays its website in all of its showrooms to emphasize the continuity between its online and offline presence.
“The customer journey and decision-making process is no longer all in stores or all online,” Klein notes. “Customers now expect that companies will use technology to meet them where they are in their decision-making process, and tailor their experience accordingly, including customizing the products they’re shown and the customer service they receive.”
When a customer enters a Saatva location, they’re met with state-of-the-art technology (through a partnership with Samsung) that allows them to personalize their visit and product recommendations.
E-commerce sales in the U.S. are growing exponentially faster than brick and mortar, notes luxury goods expert Graham Wetzbarger, which dovetails with the rise of the digital-heavy resale market.
“Resale provides more value to consumers, and with an all-time high of 68% of consumers participating, market projections are much more bullish for the compound annual growth rate of digital-driven resale vs retail,” says Wetzbarger, founder and CEO of Luxury Appraisals & Authentication.
“Key online platforms like The RealReal, ThredUp, and eBay all posted better-than-expected growth for the first half of the year.”
EXPERIENTIAL SPENDING IS ON FIRE
Experiential spending, including travel, is increasingly being favored by high-net-worth individuals, with reports from Bain & Co. and McKinsey highlighting that luxury experiences (like hospitality and dining) and experiential goods (yachts, jets) are seeing strong growth.
According to 2025 trend reports from luxury travel company Zicasso, spending on luxury travel continued to rise substantially, ticking up 23.5% year over year. Brian Tan, Zicasso’s CEO and founder, attributes much of the increase to the explosive growth of the experience economy.
“The convergence of authenticity, exclusivity, personalization, and timing illustrates that for many travelers, the highest form of luxury in an overconnected world lies in experiences that cannot be replicated online or mass-produced,” he says.
With the sports tourism market projected to reach $74.32 billion by 2036, and 60% of luxury travelers planning to attend major sporting events in 2025, Tan points to a mass shift in travel motivation.
“This extends far beyond sports,” he observes. “Our travelers are building entire vacations around solar eclipses, art exhibitions, wildlife migrations, and cultural festivals. The common thread is irreplaceability; these experiences cannot be rescheduled or relocated.”
These patterns point to a broader trend: Affluent travelers are moving beyond “safe bets” of recent years and leaning into global, experiential luxury—whether that’s extended stays in Europe during shoulder season or higher-spend sailings on luxury cruises.
Ellidore, a lifestyle management service for ultra-high-net-worth entrepreneurs, reports that client trips are increasingly structured around cultural, sporting, and arts events where the first—and most important—component is access.
“The trip is no longer just about the accommodation. It’s the tickets, wardrobe, table reservations, afterparties, and the experience. This is about bragging rights, but also immersion,” explains Ed Farrelly, Ellidore’s director of travel.
“The true marker of status in 2025 is coming home with a story no one else can match—which is why we’re seeing demand for Antarctica, the North Pole, and East Africa,” adds Simon Blackford, Ellidore’s co-founder and chief growth officer.
THE AGENCY GLOBAL'S SURVEY
When it comes to buyer demographics, which groups are growing in 2025?
SINGLE WOMEN
YOUNG BUYERS
OTHER
IN TRAVEL, AQUATIC ADVENTURES ARE ON THE RISE
With overtourism affecting many of the world’s most popular destinations, luxury travelers are increasingly casting their gaze to the water.
While all travel categories have been showing growth, according to Virtuoso, cruise and tour bookings are projected to see an exceptionally steady rise. The company’s consumer survey data indicate 30% of luxury travelers from the U.S. and 20% from Canada plan to cruise within the next year, and they expect to spend on luxury sailings. Virtuoso future cruise sales one to two years out that exceed $50,000 per booking are up 43% compared with the same time last year.
Anders Kurtén, CEO of Fraser Yachts, has observed an increase in superyacht charters that has been driven by a more wide-ranging clientele.
“Covid changed the game. People who’d never considered a yacht charter suddenly saw it as the safest, most private luxury vacation option,” he says. “First-time clients jumped from about 10% of charter bookings to nearly 30%.”
According to Kurtén, Fraser has established a new baseline, with higher average demand, more diverse client expectations, and a wider demographic footprint. “We see a broader mix of charter clients, including young families, adventure travelers, and that diversity is expanding the charter market,” he adds.
The caliber of aquatic adventures is also improving, as evidenced by the growth of ultra-luxe boating trips. "Fishing in remote, pristine waters has always carried an air of adventure, but what’s changing is the level of sophistication around it,” says Captain Craig “Brutus” Newbold of Australia’s Lizard Island Resort, a Relais & Châteaux member. “Today’s luxury travelers expect privacy, space, and the ability to disconnect from the wider world in raw luxury.”
OF LUXURY TRAVELERS FROM THE U.S. PLAN TO CRUISE WITHIN THE NEXT YEAR
OF LUXURY TRAVELERS FROM THE U.S. PLAN TO CRUISE WITHIN THE NEXT YEAR
JUMP IN FIRST-TIME CLIENTS FOR CHARTER BOOKINGS
