Across the globe and in the United States, consumers tend to spend a considerable amount of money during specific festivities and seasonal events. During the winter holiday season of 2024, for instance, consumers in the United States expected to spend an average of about 902 U.S. dollars per person, making it one of the top U.S. shopping events of the year. That said, the top spot went to the back-to-college season, when average per capita spending was projected to reach nearly 1,365 U.S. dollars. What do back-to-college shoppers buy? Getting students ready for an academic year at college can be an expensive ordeal in the United States. In addition to paying tuition and rent, it is frequently the first time young adults leave their parents’ homes, which can translate to an array of items needing to be purchased. In 2024, U.S. consumers planned to spend a total of more than 12 billion U.S. dollars on back-to-college dorm and/or apartment furnishings. Only five years earlier, planned college furniture spending in the United States stood at less than seven billion U.S. dollars in total. The impact of inflation on consumption Although consumers consistently spend more money on products and services during specific seasonal events, the wave of inflation that has hit the world in the last couple of years has thrown a wrench into many consumers’ shopping plans. For instance, increasing numbers of holiday shoppers in the United States have been looking for more sales than usual or said they would be buying less expensive gifts.
In 2023, housing required the highest amount of consumer expenditure across all races, with Asian individuals spending the most. Additionally, Asian individuals spent more on personal insurance and pensions, as well as education than any other race.
Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
License information was derived automatically
Household final consumption expenditure (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country. Data are in current U.S. dollars.
U.S. consumers were asked how much money they spent on average on groceries per week. The findings present that U.S. households' weekly grocery expenditure amounted to about 165 U.S. dollars in 2024. Between 2019 and 2024, the average weekly expenditure grew exponentially, favored by the pandemic first and inflation after. Food affordability Since the pandemic, food affordability has been a challenge for consumers around the world, leading to changes around their food consumption. In the United States, meats, specialty foods and snacks are among the less purchased products, other changes include the purchase of generic products to save money on groceries. Generational differences Due to the rise of online grocery shopping, the difference in generational consumer behavior is significant. Millennials are most likely to shop online for their groceries, followed by Gen Z, while older generations prefer in-store shopping. When it comes to shopping frequency, those aged between 25 and 34 tended to shop more often compared to the youngest and oldest generations.
In November 2024, prices had increased by 2.7 percent compared to November 2023 according to the 12-month percentage change in the consumer price index — the monthly inflation rate for goods and services in the United States. The data represents U.S. city averages. In economics, the inflation rate is a measure of the change in price level over time. The rate of decrease in the purchasing power of money is approximately equal. A projection of the annual U.S. inflation rate can be accessed here and the actual annual inflation rate since 1990 can be accessed here. InflationOne of the most important economic indicators is the development of the Consumer Price Index in a country. The change in this price level of goods and services is defined as the rate of inflation. The inflationary situation in the United States had been relatively severe in 2022 due to global events relating to COVID-19, supply chain restrains, and the Russian invasion of Ukraine. More information on U.S. inflation may be found on our dedicated topic page. The annual inflation rate in the United States has increased from 3.2 percent in 2011 to 8.3 percent in 2022. This means that the purchasing power of the U.S. dollar has weakened in recent years. The purchasing power is the extent to which a person has available funds to make purchases. According to the data published by the International Monetary Fund, the U.S. Consumer Price Index (CPI) was about 258.84 in 2020 and is forecasted to grow up to 325.6 by 2027, compared to the base period from 1982 to 1984. The monthly percentage change in the Consumer Price Index (CPI) for urban consumers in the United States was 0.1 percent in March 2023 compared to the previous month. In 2022, countries all around the world are experienced high levels of inflation. Although Brazil already had an inflation rate of 8.3 percent in 2021, compared to the previous year, while the inflation rate in China stood at 0.85 percent.
The real per capita cosumer spending ranking is led by Iran with 120,324,699 U.S. dollars, while Vietnam is following with 49,388,580.61 U.S. dollars. In contrast, Zimbabwe is at the bottom of the ranking with 2.87 U.S. dollars, showing a difference of 120,324,696.13 U.S. dollars to Iran. Consumer spending, here depicted per capita, refers to the domestic demand of private households and non-profit institutions serving households (NPISHs). Spending by corporations and the state is not included. The forecast has been adjusted for the expected impact of COVID-19.Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP). As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data has been converted from local currencies to US$ using the average constant exchange rate of the base year 2017. The timelines therefore do not incorporate currency effects. The data is shown in real terms which means that monetary data is valued at constant prices of a given base year (in this case: 2017). To attain constant prices the nominal forecast has been deflated with the projected consumer price index for the respective category.
In January 2025, prices had increased by three percent compared to January 2024 according to the 12-month percentage change in the consumer price index — the monthly inflation rate for goods and services in the United States. The data represents U.S. city averages. In economics, the inflation rate is a measure of the change in price level over time. The rate of decrease in the purchasing power of money is approximately equal. A projection of the annual U.S. inflation rate can be accessed here and the actual annual inflation rate since 1990 can be accessed here. InflationOne of the most important economic indicators is the development of the Consumer Price Index in a country. The change in this price level of goods and services is defined as the rate of inflation. The inflationary situation in the United States had been relatively severe in 2022 due to global events relating to COVID-19, supply chain restrains, and the Russian invasion of Ukraine. More information on U.S. inflation may be found on our dedicated topic page. The annual inflation rate in the United States has increased from 3.2 percent in 2011 to 8.3 percent in 2022. This means that the purchasing power of the U.S. dollar has weakened in recent years. The purchasing power is the extent to which a person has available funds to make purchases. According to the data published by the International Monetary Fund, the U.S. Consumer Price Index (CPI) was about 258.84 in 2020 and is forecasted to grow up to 325.6 by 2027, compared to the base period from 1982 to 1984. The monthly percentage change in the Consumer Price Index (CPI) for urban consumers in the United States was 0.1 percent in March 2023 compared to the previous month. In 2022, countries all around the world are experienced high levels of inflation. Although Brazil already had an inflation rate of 8.3 percent in 2021, compared to the previous year, while the inflation rate in China stood at 0.85 percent.
In today's fast-paced world, understanding consumer behavior isn't just advantageous; it's essential for businesses striving to thrive in competitive markets. Enter Consumer Behavior Data – the game-changer in modern marketing strategies. But what makes it so indispensable? Let's delve into the key features, applications, and why choosing the right provider is paramount.
Why Choose Consumer Behavior Data?
Consumer Behavior Data acts as a compass, guiding businesses through the ever-evolving landscape of consumer preferences. By harnessing this data, companies gain invaluable insights into what drives their target audience, enabling them to tailor products, services, and marketing efforts accordingly. In essence, it's the foundation upon which successful strategies are built.
Key Features That Set Consumer Behavior Data Apart:
● Granularity: Unlike traditional market research methods, Consumer Behavior Data provides granular insights into individual consumer actions, preferences, and trends. This level of detail empowers businesses to make data-driven decisions with pinpoint accuracy.
● Predictive Capabilities: By analyzing past behaviors, Consumer Behavior Data can forecast future trends with remarkable accuracy. This predictive capability enables businesses to stay ahead of the curve, preempting market shifts and proactively meeting consumer demands.
Applications of Consumer Behavior Data:
● Market Segmentation: By identifying distinct consumer segments based on behavior patterns, businesses can tailor their marketing strategies to resonate with specific audience segments, maximizing engagement and conversion rates.
● Personalized Marketing: Consumer Behavior Data enables hyper-personalized marketing campaigns tailored to individual preferences and purchasing behaviors. From personalized recommendations to targeted advertisements, businesses can deliver content that resonates on a personal level, fostering stronger customer relationships.
● Product Development: Understanding consumer behavior is integral to product development. By analyzing feedback, purchase patterns, and consumer sentiments, businesses can refine existing products or innovate new ones that address unmet needs and preferences.
● Customer Retention: Leveraging Consumer Behavior Data, businesses can anticipate customer needs, identify potential churn risks, and implement proactive retention strategies. By delivering personalized experiences and addressing pain points, businesses can foster loyalty and long-term customer relationships.
Why We're the Superior Choice:
● Customized Solutions: Recognizing that every business is unique, we offer customizable solutions tailored to your specific objectives, ensuring maximum relevance and efficacy. ● Simply put – More Data! We offer more consumer data profiles than anyone in the market allowing you to access the largest source of consumer behavior data. ● Robust Data Security: We prioritize the security and privacy of consumer data, implementing stringent measures to safeguard against breaches and unauthorized access.
US Online Household Furniture Market Size 2025-2029
The US online household furniture market size is forecast to increase by USD 6.45 billion at a CAGR of 4.4% between 2024 and 2029.
The US online household furniture market is growing, driven by consumer demand for convenience in home shopping and advancements in mobile platforms that simplify purchases. This report delivers valuable insights through detailed market size data, growth forecasts, and analysis of key segments like bedroom furniture, which leads due to its frequent online sale/e-commerce shopping. It highlights a key trend in personalized product offerings, meeting diverse customer tastes, while addressing a challenge from supply chain disruptions, which can delay deliveries. With data on regional dynamics, vendor approaches, and buyer preferences, this report enables businesses to optimize operations, enhance client experiences, and stay competitive in a fast-paced global landscape by navigating customization and logistics hurdles.
What will be the Size of the Market During the Forecast Period?
Request Free Sample
In the digital world, online shopping has become a preferred choice for consumers seeking convenience and a wide range of options. Furniture shopping is no exception to this trend. The extensive furniture collections available online cater to diverse consumer preferences, from modern designs to rustic pieces made of traditional woods, metals, composites, and glass. The convenience of online furniture shopping allows consumers to browse and purchase from the comfort of their homes, eliminating the time-consuming excursion to brick-and-mortar stores. Smartphones and laptops have made it easier than ever to access these collections, enabling consumers to compare prices and features at their leisure.
In addition, online furniture retailers offer customisation options, enabling consumers to tailor their furniture to their personal tastes. This level of customisation is not always possible in traditional settings. Moreover, consumers can take advantage of discounts and sales, ensuring they get the best value for their money. The rise of online furniture shopping has disrupted the traditional furniture market. Consumers now have access to a vast array of furniture options, allowing them to make informed decisions based on their preferences and budgets. The convenience and flexibility offered by online shopping have made it an attractive alternative to the traditional shopping experience.
How is this market segmented and which is the largest segment?
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.
Product
Living room furniture
Bedroom furniture
Storage furniture
Others
Material
Wood
Metal
Others
Type
Non-ready to assemble
Ready to assemble
Geography
US
By Product Insights
The living room furniture segment is estimated to witness significant growth during the forecast period.The market holds substantial growth potential, particularly within the living room furniture segment. Consumers with elevated purchasing power are investing significantly in modern living room designs, featuring extensive furniture collections. These collections encompass a blend of traditional woods, metals, and rustic pieces. Multifunctional and multipurpose furniture, such as sofas and couches, are increasingly popular due to the trend of downsizing living spaces. Large families are adapting to smaller dwellings, necessitating seating solutions that offer versatility, such as chairs that can double as mini sofas or sectional sofas. This shift has driven the demand for online household furniture retailers, offering a wide range of modern designs and convenient shopping experiences.
Get a glance at the market report of share of various segments Request Free Sample
Market Dynamics
The online household furniture market in the US is driven by demand for ergonomic design, fabric durability, and cushion support to enhance user comfort. Frame strength, weight lightness, and eco-friendly materials ensure long-lasting and sustainable choices. Consumers prioritize delivery speed, assembly time, and packaging care for convenience. Space optimization, storage features, and design flexibility cater to modern living needs, while color retention, stain proofing, and surface protection improve longevity. With a focus on cost efficiency, comfort rating, maintenance ease, and noise reduction, the market continues to expand with versatile and high-quality offerings.
Firstly, the increasing preference for convenient online shopping experiences is driving sales in this sector. Secondly, the trend towards innovative and customized furniture designs is gaining tract
In the fourth quarter of 2024, online shoppers spent an average of about 2.98 U.S. dollars per visit across all verticals. Electronics is the category in which consumers spent the most money per visit on average, at 3.32 U.S. dollars, followed by luxury apparel at 3.10 dollars. Nickels and dimes Over the past few years, the average order value for e-commerce purchases has increased globally, from around 118 U.S. dollars in September 2022 to around 126 U.S. dollars in the same month of 2023. The average order value also depends heavily on the online traffic source consumers use. In 2023, the value per order value was the highest when navigating directly, averaging around 167 dollars. Direct navigation means searching for a website directly in the browser's address bar, bypassing the use of search engines. Orders placed from social media stores were the lowest in value, with an average of less than 110 dollars. Mobile shopping on the rise Online shoppers have clear preferences when it comes to device type. When comparing gadgets, the average purchase amount has always been the highest for desktops, with an order value of 160 U.S. dollars. This indicates that bigger purchases are made via desktop computers. However, consumers are more likely to complete orders when shopping on mobile devices. Mobile devices were also clearly preferred when browsing retail websites, with around three-fourths of consumers using smartphones instead of desktops or tablets.
Market modeling estimates that BNPL transactions in the United States would be about 12 percent higher in 2025 than in 2024. This is according to a market model released in the first quarter of 2025. Since 2023, consumers were looking for money lending alternatives as they were looking to avoid taking on new credit card debt. This growth can be seen in the monthly app installs of certain BNPL providers in the United States. Note that the source does not give further indications of what the figures provided here are based on. As buy now, pay later was unregulated in many countries across the world by early 2023, transaction figures on this payment method were scarce unless a domestic financial supervisor managed to request data from individual BNPL providers. This happened in the United States, providing insights into the different product segments U.S. consumers use BNPL for.
The global total consumer spending in was forecast to continuously increase between 2024 and 2029 by in total 16.2 trillion U.S. dollars (+26.61 percent). After the ninth consecutive increasing year, the consumer spending is estimated to reach 77.1 trillion U.S. dollars and therefore a new peak in 2029. Consumer spending here refers to the domestic demand of private households and non-profit institutions serving households (NPISHs). Spending by corporations and the state is not included. The forecast has been adjusted for the expected impact of COVID-19.Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP). As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data is shown in nominal terms which means that monetary data is valued at prices of the respective year and has not been adjusted for inflation. For future years the price level has been projected as well. The data has been converted from local currencies to US$ using the average exchange rate of the respective year. For forecast years, the exchange rate has been projected as well. The timelines therefore incorporate currency effects.Find more key insights for the total consumer spending in countries like North America and Europe.
https://www.cognitivemarketresearch.com/privacy-policyhttps://www.cognitivemarketresearch.com/privacy-policy
According to Cognitive Market Research, The Global Luxury Cosmetics market size is USD 50.5 billion in 2023 and will expand at a compound annual growth rate (CAGR) of 5.80% from 2023 to 2030.
The demand for Luxury Cosmetics products is rising due to the increased desire for high-quality and premium-based beauty and personal care goods are the primary drivers of such product demand.
Demand for females remains higher in the Luxury Cosmetics product market.
The skincare category held the highest Luxury Cosmetics product market revenue share in 2023.
North American Luxury Cosmetics will continue to lead, whereas the European Luxury Cosmetics product market will experience the most substantial growth until 2030.
Consumer Demand for Premium Products to Provide Viable Market Output
Premium items evoke feelings of exclusivity and prestige. Luxury cosmetics are one example of a product that attracts customers by exuding grandeur and refinement. People who purchase and use high-end cosmetics may feel pampered and distinguished, boosting their self-esteem and social standing. Premium items usually tout their superior performance and quality. This translates into luxury cosmetics formulations strengthened with premium ingredients and cutting-edge technology. Customers want these things because they expect better results, such as smoother skin, longer-lasting cosmetics, or more radiant appearances. The premium market caters to specific consumer pleasure and self-care desires.
Rising Disposable Income to Propel Market Growth
Rising disposable income is a critical issue that has a significant impact on many businesses, including the luxury cosmetics market. This driver is based on the basic idea that as individuals' and households' disposable income, or money available for spending after taxes and essential expenses, increases, they are more likely to allocate a portion of it to discretionary and premium purchases, such as upscale cosmetics. With increased disposable income, customers usually desire to improve their overall quality of life and well-being, including spending on self-care and cosmetics. Luxury cosmetics, which are noted for their superior quality and unique appeal, are appealing to people with higher incomes.
Growth of Social Media is driving the birth of Fashion Influencers which in turn is boosting market demand
Market Dynamics of the Luxury Cosmetics
Changing Product Preference to Restrict Market Growth
Consumer tastes are drastically limiting the market for premium cosmetics. Consumer desires and expectations shift in tandem with societal standards and notions of beauty. One essential component is the increased emphasis on sustainable and clean beauty. Consumers are paying more attention to the contents of their skincare and cosmetic products, preferring formulas that are cruelty-free and free of potentially harmful compounds. As a result of this shift in consumer desire, niche, clean beauty brands that offer alternatives to traditional luxury cosmetics have increased in popularity. Furthermore, the trend toward simplicity and minimalism in cosmetic regimes has gained traction. Many consumers today place a high value on things that serve several roles and have visible benefits, making them less likely to spend money on a wide range of luxury cosmetics.
Impact of COVID–19 on the Luxury Cosmetics Product Market
COVID-19 has a significant impact on the market for Luxury Cosmetics Products. Demand fell sharply in the early stages of the epidemic as people cut back on non-essential purchases and retail stores closed. Travel restrictions also impacted duty-free sales, an important avenue for luxury cosmetics. As the epidemic progressed, however, there was a noticeable shift toward e-commerce and online beauty buying, with customers seeking self-care and indulgence. Luxury brands responded by improving their web presence and providing virtual consultations. As people spent more time at home, the industry witnessed a growing emphasis on skincare and wellness items. Overall, the Luxury Cosmetics Product industry showed resiliency, with online sales emphasizing self-care, driving recovery and future growth. Introduction of The Luxury Cosmetics Market
People use cosmetics to adorn and make themselves appear appealing and confident. These goods are available in various forms, including creams, lotions, gels, oils, sp...
China consumes by far the most electricity of any country in the world, with more than 8,000 terawatt-hours equivalent consumed in 2023. The United States ranked as the second-leading electricity consumer that year, with over 4,000 terawatt-hours consumed. India followed, but by a wide margin. Large population, high consumption? The world's top three electricity consumers constitute the countries with the largest population. India has the largest population with over 1.4 billion people, while consuming less than one fifth of the electricity of China. Meanwhile, countries such as Pakistan and Nigeria, which boasted the fifth and sixth-largest population size worldwide, did not rank among the top 20 electricity consumers. GDP and electricity consumption Countries with a high GDP per capita like the United States provide their residents greater average purchasing power. Countries with higher-income residents tend to be more urbanized, leading to higher electricity consumption. The U.S. stands among the ten-largest electricity consumers per capita in the world, with Iceland and Norway leading the ranking.
Comparing the 148 selected regions regarding the total consumer spending on clothing and footwear , the United States is leading the ranking (558.5 billion U.S. dollars) and is followed by China with 333.4 billion U.S. dollars. At the other end of the spectrum is Timor-Leste with 36.12 million U.S. dollars, indicating a difference of 558.5 billion U.S. dollars to the United States. Consumer spending, in this case footwear-related spending, refers to the domestic demand of private households and non-profit institutions serving households (NPISHs). Spending by corporations and the state is not included. The forecast has been adjusted for the expected impact of COVID-19.Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP). The shown data adheres broadly to group 03. As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data is shown in nominal terms which means that monetary data is valued at prices of the respective year and has not been adjusted for inflation. For future years the price level has been projected as well. The data has been converted from local currencies to US$ using the average exchange rate of the respective year. For forecast years, the exchange rate has been projected as well. The timelines therefore incorporate currency effects.
The statistic depicts the consumer spending in the United States related to the Super Bowl weekend from 2007 (Super Bowl XLI) to 2024 (Super Bowl LVIII). It is estimated that a total of more than 17 billion U.S. dollars will be spent by consumers in the United States on Super Bowl related purchases in 2023. These purchases include, for example, food and beverages, game-related merchandise, other apparel, decorations and televisions. Super Bowl advertising The Super Bowl, the annual NFL championship game, is one of the biggest sports events in the world. Super Bowl Sunday is somewhat of an unofficial holiday in the United States as the game is watched by millions of people every year. Due to its popularity and high TV ratings, the Super Bowl broadcast is a very attractive place for TV advertisements. In fact, the Super Bowl brings in hundreds of millions of U.S. dollars in ad revenue every single year. An average 30-second ad-spot during the Super Bowl broadcast is also very expensive, costing approximately eight million U.S. dollars in 2023. Super Bowl consumer spending The estimated total Super Bowl related consumer spending was at 18.6 billion U.S. dollars in 2025, an increase of over a billion U.S. dollars compared to the previous year. In 2025, consumers in the United States are expected to shell out an average of just over 90 U.S. dollars on purchases related to the Super Bowl, mainly on food and beverages. Other products that were purchased by consumers include team apparel/accessories, decorations, televisions and furniture. Part of this consumer spending also includes wagering money on the game. In 2025, about 22 million U.S. dollars was won on Super Bowl-related bets at casinos in the state of Nevada alone. This amounted to a winning percentage of about 15 percent.
The quick service restaurant sector (QSR) in the United States has seen a near year-over-year growth since 2004, with its peak consumer spending exceeding 358.4 billion U.S. dollars in 2024. Consumer spending in this sector saw a notable decline in 2020, however, as a result of the coronavirus (COVID-19) pandemic. Fast food industry in the U.S. - additional information Quick service restaurants (QSRs) are fast food restaurants, set apart from full service or table restaurants by their limited menus, minimal table service and, as their name implies, fast service. According to the American Customer Satisfaction Index (ACSI) carried out in 2024, the quick service restaurant chain in the United States with the highest ACSI score was Chick-fil-A. With a score of 83 out of 100. McDonald’s scored the lowest with a score of 71. Is McDonald's the largest QSR chain? Despite McDonald's low score on the American Customer Satisfaction Index, McDonald’s was the largest fast food company worldwide in terms of brand value in 2022. That year, the company generated a global brand value of almost 196.5 billion U.S. dollars. McDonald's closest competitor in terms of brand value was Starbucks, with 61.7 billion U.S. dollars. KFC followed with 22.2 billion U.S. dollars.
Millennials were the leading customer groups of personal luxury goods, accounting for 46 percent of all luxury goods spending worldwide. Born between 1961 and 1996, Millennials, or Gen Y, also represents the second-largest group with the highest disposable income in the United States. How do Millennials and Gen Z engage with luxury goods and services? With their increasing share in employment and wealth creation, younger generations play an increasingly important role across consumer industries worldwide. As digitally savvy generations, they not only use online channels to make purchases, but also research, follow, and get inspiration for new styles and brands. According to the results of a recent survey, luxury consumers aged between 19 and 41 were more keen on engaging with brands on social media, such as following an influencer or sending private messages to brands. State of the personal goods industry Worldwide, the personal luxury goods market remains relevant after bouncing back from the economic downturn of 2020. Based on Statista’s Consumer Market Insights, the personal luxury goods market was worth over 474 billion U.S. dollars in 2024. The country spearheading the luxury goods revenue was the United States. U.S. consumers were also the main customers of the luxury goods industry, as one-third of the market revenue came from American nationals making luxury goods purchases.
The per capita consumer spending on clothing and footwear ranking is led by Luxembourg with 2,079.65 U.S. dollars, while Norway is following with 1,622.91 U.S. dollars. In contrast, Burundi is at the bottom of the ranking with 6.81 U.S. dollars, showing a difference of 2,072.84 U.S. dollars to Luxembourg. Consumer spending, in this case per capita spending concerning clothing and footwear, refers to the domestic demand of private households and non-profit institutions serving households (NPISHs). Spending by corporations and the state is not included. The forecast has been adjusted for the expected impact of COVID-19.Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP).The shown data adheres broadly to group 03. As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data is shown in nominal terms which means that monetary data is valued at prices of the respective year and has not been adjusted for inflation. For future years the price level has been projected as well. The data has been converted from local currencies to US$ using the average exchange rate of the respective year. For forecast years, the exchange rate has been projected as well. The timelines therefore incorporate currency effects.
The variety of products that can be purchased online is continuously growing. Among U.S. consumers the two most popular categories for online purchases are Clothing and Shoes. 43 percent and 33 percent of consumers respectively chose these answers in our representative online survey. The survey was conducted online among 10,146 respondents in the United States, in 2024. Looking to gain valuable insights about customers of online shops across the globe? Check out our
Across the globe and in the United States, consumers tend to spend a considerable amount of money during specific festivities and seasonal events. During the winter holiday season of 2024, for instance, consumers in the United States expected to spend an average of about 902 U.S. dollars per person, making it one of the top U.S. shopping events of the year. That said, the top spot went to the back-to-college season, when average per capita spending was projected to reach nearly 1,365 U.S. dollars. What do back-to-college shoppers buy? Getting students ready for an academic year at college can be an expensive ordeal in the United States. In addition to paying tuition and rent, it is frequently the first time young adults leave their parents’ homes, which can translate to an array of items needing to be purchased. In 2024, U.S. consumers planned to spend a total of more than 12 billion U.S. dollars on back-to-college dorm and/or apartment furnishings. Only five years earlier, planned college furniture spending in the United States stood at less than seven billion U.S. dollars in total. The impact of inflation on consumption Although consumers consistently spend more money on products and services during specific seasonal events, the wave of inflation that has hit the world in the last couple of years has thrown a wrench into many consumers’ shopping plans. For instance, increasing numbers of holiday shoppers in the United States have been looking for more sales than usual or said they would be buying less expensive gifts.