Which Luxury Brand Dominates the Luxury Fashion Market in the U.S?
Gucci Dominates with 88% Brand Awareness in The U.S., while Balenciaga and Versace Lead in Customer Loyalty
Among the luxury fashion bands in the United States, Gucci dominates with an impressive 88 percent brand awareness, leaving its rivals Chanel and Prada behind.
Moreover, when it comes to ownership shares, Gucci and Burberry are at the top during September 2023, a survey by Statista Consumer Insights says.
Interestingly, lesser-known brands like Off-White and Balmain are striving to be recognized the most, but they are capturing nearly 35 percent of U.S. consumers’ attention, the latest survey of the market reveals.
With respect to brand loyalty, Balenciaga and Versace are enjoying the robust top spots with loyalty rates of 76 and 75 percent, respectively.
Which Brand Occupies Major Share of Ownership
Ownership trends indicate a correlation with brand recognition. Burberry and Gucci top the list with 26 percent of each in respect of ownership share in the luxury fashion market. Balenciaga, Chanel, and Dior, each were with a 23 percent ownership rate. Similarly, Dolce & Gabbana and Louis Vuitton were at around the 20 percent mark. The notable disparity was seen in brands ranking like Valentino, Vivienne Westwood, and Yves Saint Laurent, which command ownership rates below 10 percent.
Balenciaga and Versace emerge as leaders in customer loyalty
Both these brands were at the top with respect to customer loyalty in the United States. Balenciaga’s loyalty rate was 76 and Versace’s 75 among luxury fashion brands. Alexander McQueen, Gucci, and Louis Vuitton closely trailed by securing a loyalty rate of 74 percent, each.
Prada, Dior, and Yves Saint Laurent also command high rankings. However, Balmain and Valentino lag behind with relatively lower loyalty rates of 61 and 60 percent, respectively.
