Visa Business and Economic Insights on Luxury Spending

This report from Visa Business and Economic Insights discusses the evolving landscape of luxury spending as of November 2025. It outlines how luxury shopping is no longer exclusive to the affluent, with participation in luxury retail spending declining across major global centers amid economic uncertainty. The analysis reveals that consumers from various spending tiers, including the top 5, 10, and 20 percent, are engaging with high-end goods. The report highlights a notable shift towards online luxury shopping, driven by changing consumer preferences and the impact of the pandemic. It also emphasizes the importance of December as a peak month for luxury spending due to holiday gift-giving. The document suggests that banks and luxury brands should adapt their strategies to appeal to a broader audience, including aspirational middle-class consumers, by developing targeted marketing campaigns and personalized offers. Overall, the report presents a comprehensive view of current trends and future opportunities in the luxury retail sector.