EY’s study, which surveyed 1,600 aspiring luxury consumers across ten markets, highlights a shift in consumer priorities – placing product quality and sustainability at the heart of purchasing decisions, while price sensitivity and evolving shopping habits reshape the luxury landscape.
The Index found that 71% of clients are primarily motivated by a desire to own high-quality products, with status and brand logos still holding significant appeal for many.
However, the research also uncovers a growing disconnect between perceived quality and price: 62% of aspirational luxury clients have decided against a purchase in the past year, with price emerging as the leading reason. Nearly half (46%) of respondents would delay their purchase until they could afford it, while 29% would wait for discounts or outlet sales. This trend is particularly pronounced among Gen X clients and in markets such as Japan and the UK, where more than half prefer to postpone luxury purchases.
Sustainability is also high on the agenda, with 31% of clients ranking it among their top five purchase factors - on par with price. Key initiatives such as sustainable packaging (53%) and innovative materials (45%) are increasingly valued, especially among clients in the UK and Mainland China. The Index suggests that luxury brands have an opportunity to redefine value, moving from exclusivity and celebrity endorsement to meaningful, sustainable innovation.
Silvia Rindone, EY-Parthenon UK&I retail lead, said: “While British clients continue to value exceptional quality and craftsmanship, we’re also seeing a clear shift towards more conscious and considered purchasing. Price sensitivity and sustainability are now as influential as brand heritage, and clients are increasingly open to pre-owned and rental options. For luxury brands, the opportunity lies in redefining value - offering not just exclusivity, but meaningful experiences and innovative, sustainable choices that resonate with today’s discerning UK clientele.”
Despite the rise of omnichannel shopping, in-store experiences remain dominant: 75% of clients purchased their latest luxury item from a physical store, although younger generations, including Gen-Z and Millennials, are more likely to combine online and offline channels.
Rindone added: “Consumers still seek the tactile, immersive environment that only in-store shopping can offer. To encourage spend, retailers must elevate the in-store journey - offering personalised service, exclusive access, and seamless integration with online platforms.”
