A lack of international tourists, supply chain constraints and rising costs have not stopped luxury brands from thriving in the ever-evolving U.S. retail landscape. From 2016-2019, the luxury market grew 5% per year, outpacing growth in the non-luxury sector. In 2021, this growth skyrocketed, surging 47% higher than 2019, according to Bank of America Corp. data. The luxury sector is expected to continue its upward trajectory, expanding another 8.5% this year and cumulatively more than 20% by 2025, making these brands the star of the retail real estate market.
