EY Luxury Client Index 2025: In-house secondhand sales and rentals could revive sluggish luxury market

• 71% of clients surveyed are primarily driven by a desire to own high-quality products

• 62% of aspirational luxury clients have decided against purchasing an item citing price as the top deterrent

• More than half (54%) of clients would purchase a pre-owned product directly from a luxury brand

The EY organization today launches the EY Luxury Client Index 2025 (Index), a comprehensive study that provides insights into the evolving preferences and behaviors of aspiring luxury consumers (clients). This first edition of the Index surveyed 1,600 clients across ten markets and key generational cohorts to uncover new pathways for maisons to reconnect with their clients and navigate market challenges.

At a time when the global luxury sector faces headwinds, luxury brands (maisons) are facing falling sales. According to the Index, aspiring luxury clients are struggling to justify premium purchases. This opens the door for maisons to get back to essentials and identify effective ways to transform. The Index focuses on the purchase drivers for aspirational luxury clients, identified within five client spend segments, to help brands navigate the current market slowdown and identify actionable levers to win aspiring clients back.

Product quality above all

The Index finds that exceptional quality is the principal essence of luxury, but status still holds sway. Seventy-one percent of clients say they are primarily driven by a desire to own high-quality products, and 32% state that they buy luxury fashion as a mark of status. Contradicting the quiet luxury trend, the Index finds the presence of a logo still holds notable appeal for all aspirational clients, with 26% ranking it among their top five purchase factors, compared with just 12% who prefer the absence of a logo. Owning something of quality is more important than exclusivity, celebrity endorsement, personalization and even price, according to the findings. However, prestige aspirational luxury clients (the high-spending segment surveyed)[1] (42%) and discerning aspirational luxury clients (consistently high spenders surveyed)[2] (34%) are significantly more driven by the desire for status than other segments. This trend is most pronounced among Mainland China-based aspirational luxury clients (44%).

Sustainability, including traceability and supply chain transparency, also emerges as a significant factor influencing purchasing decisions closely tied to product quality. Nearly a third (31%) ranked sustainability among the top five factors influencing purchase, just as important as price (30%). The key initiatives that draw clients toward sustainability include sustainable packaging (53%) and innovative materials (45%), suggesting they’re increasingly valuing sustainable innovation and long-term value. Clients in the UK (43%) and in Mainland China (37%) are the most focused on sustainability.

The price/quality disconnect

The Index reveals that a disconnect between quality and price drives aspirational luxury clients away. Sixty-two percent of respondents say they have considered buying a luxury product in the past year and decided against it, with price emerging as the top reason to discard a purchase. Forty-six percent of client respondents indicated they would delay their purchase until they had saved enough to buy the desired product or until a maison offered a discount or outlet sale (29% of respondents). Gen X clients are most likely to drop a purchase, citing high cost as the reason (38%). More than half of clients in Japan (60%) and the UK (53%) would prefer to delay their purchase and buy later. In Mainland China, instead of waiting, clients seek flexible payment options (50%) and high-quality alternatives such as dupes — a product that copies the design of a luxury maison product without the maison’s logo (25%).

In store shopping remains dominant

For aspirational luxury clients, shopping in store remains the preference. Seventy-five percent bought their latest luxury item from a brand’s physical store despite the rise in omnichannel shopping. However, 33% prefer to combine in-store visits with brand websites. In markets such as the UAE, omnichannel is the first channel of purchase for 55% but the satisfaction from this channel drops significantly from offline, highlighting the growing importance of seamless, omnichannel experiences to reflect premium products and exclusivity of service.

Beyond aspirational luxury clients (the wealthiest client segment surveyed)[3] visit brand websites only to access international brands (20%) or for the benefit of wider product selection (20%). Younger generations prefer online channels: 17% of Gen Z vs. 10% of baby boomers; and 41% of Gen Z prefer a combination of online and offline channels, compared with 24% of baby boomers.

Expanding the brand universe 

Fifty-four percent of clients surveyed would purchase a pre-owned product directly from a luxury maison. Similarly, 50% would consider renting, instead of buying, both for convenience and event-specific suitability — providing scope for repeat business and brand loyalty.

Clients are willing to pay for the most valuable experiences

Seventy percent of clients (and 47% of consumers spending less than US$5,815 per year) say that if a maison did not offer them a complimentary experience alongside their purchase, such as access to new products, store openings and VIP parties, they would nonetheless be willing to pay to enjoy one. A notably higher percentage of Gen Z (79%) and clients in Mainland China (84%) agreed with this statement. 

About the EY Luxury Client Index – Study Methodology

The survey was conducted with a total of 1,672 participants across 10 markets. This included strong representation from key luxury markets such as the US (N=209), Mainland China (N=208) and Spain (N=208).  The sample included respondents across key generational cohorts, including millennials, Gen X and baby boomers. The sample highlights a majority of clients who are millennials as a reflection of the aspirational luxury clients’ base composition.

The sample was balanced across genders, with a minimum quota of 45% for each gender to help ensure diverse representation. Participants were spread across a range of annual household income levels, with the US$116,322.52—US$232,643.88 band being the most represented. All participants have purchased luxury fashion items in the past year — specifically clothing, shoes, belts and bags. The sample includes a wide range of spending levels.

The survey focused on high-potential aspirational luxury clients, with a deliberate emphasis on millennials (1981–1996), who made up 56% of respondents. This generation now represents the largest and most influential cohort in the luxury market, driving both current sales and setting future expectations around brand values, digital engagement and experience. Gen Z (1997–2008) accounted for 14%, offering early signals of emerging behavior, while Gen X (1965–1980) comprised 22% and baby boomers (1946–1964) 8%, allowing for generational comparison.

Segment profiles

This study also includes a customer segmentation analysis aimed at understanding the underlying behaviors, motivations and future potential of different types of luxury clients. Rather than focusing on demographics alone, the analysis identifies meaningful differences in mindset and purchase behavior that can help inform brand strategy. This segmentation was developed using a combination of behavioral and attitudinal data collected through the survey. A statistical clustering technique was used to identify five distinct groups within the sample based on shared patterns across key variables. Each segment was then validated through differences in response patterns across multiple questions. The analysis is based on a total sample of 1,557 luxury clients. The variables used in the segmentation included purchase frequency and spend levels, attitudes toward luxury, openness to new models and future spending intentions.

Flexible aspirational luxury clients – 10% of survey population

Occasional clients with lower current spend (spending an average of US$6,396.51) but strong future potential (indicating that their appetite for spend on luxury will increase in the next 12 months); value-driven and open to pre-owned (two-thirds, 67%, are willing to purchase certified pre-owned luxury products).

Prestige aspirational luxury clients – 28% of survey population

High-spending (spending on an average of US$9886.37), very regular clients (majority buy more than three luxury items per year); motivated by exclusivity, experiences and brand prestige.

Discerning aspirational luxury clients – 28% of survey population

Consistent high spenders (spending on an average of USD11,049.48) who value innovation and exclusivity but apply a more rational lens when assessing worth.

Drifting aspirational luxury clients – 22% of survey population

Price-sensitive (more than half did not proceed with at least one additional luxury product purchase in the last year as a result of higher price), lower engagement (the majority purchase luxury items rarely, occasionally or sometimes (one or two times per year) and declining or stagnant future spend (indicating that their spend on luxury will either remain the same or decrease in the next 12 months).

Beyond aspirational luxury clients – 5% of survey population

The wealthiest segment: household income US$465,164.33+ and luxury spend of US$11,627.36+ in the past year.

The total across segments will not add up to 100%, as a portion of the survey population did not fall into any defined segment.