Aspiring luxury consumers are “embracing pre-owned and sustainable choices”, are price-driven and are heavily focused on quality. Those are just some of the conclusions from an inaugural study by EY, dubbed the EY Luxury Client Index.

It spoke to 1,600 aspiring luxury consumers across 10 markets, highlighting “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”. 

And it’s particularly interesting that it focused on aspiring shoppers rather than diehard ultra-luxury consumers — at a time when luxury remains under pressure, such shoppers could be the ones who make all the difference.

Saying that “in-house secondhand sales and rentals could provide a much-needed boost to a sluggish market”, it added that over half (54%) of clients would purchase pre-owned products directly from a luxury house, and 50% would consider renting luxury goods for convenience or special occasions. These findings suggest that certified pre-owned sales and rentals could help brands bridge the gap with third-party platforms, drive repeat business, and foster brand loyalty.

Rachel Daydou, Partner, Luxury AI & Sustainability, EY Fabernovel, France, said: “Maisons have traditionally shied away from resales of their products, with a view that doing so detracts from their exclusivity and disrupts sales of newer designs. And yet, the potential for the resale of luxury goods is tremendous. Certified pre-owned luxury sales directly from brands could help to close the market gap between third-party platforms and maisons themselves and, at the same time, address consumer concerns around the value of new luxury items in a way that benefits brands.”

Meanwhile, the report said “quality and status [are] the main drivers of luxury purchases” with 71% of clients “primarily motivated by a desire to own high-quality products, with status and brand logos still holding significant appeal for many”. And that clearly applies whether the item is new or secondhand.

Price impacts spending choices

However, the research also uncovered “a growing disconnect between perceived quality and price” with 62% of aspirational luxury clients having decided against a purchase in the past year, price being the main 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.

As mentioned, sustainability is also high on the agenda, with 31% ranking it among their top five purchase factors —on par with price. Sustainable packaging (53%) and innovative materials (45%) “are increasingly valued”, especially in the UK and Mainland China. This suggests that luxury brands “have an opportunity to redefine value, moving from exclusivity and celebrity endorsement to meaningful, sustainable innovation”.

Looking specifically at Britain, Silvia Rindone, EY-Parthenon UK&I Retail Lead, said: “The UK luxury market is at a pivotal moment. 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.”

Another point that came through clearly in the study is that in-store experiences remain dominant as 75% of clients purchased their latest luxury item from a physical store. 

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. It’s not just about selling a product; it’s about creating a moment that feels truly luxurious and worth the investment.”

But despite this, brands can’t afford to neglect digital or make online shoppers feel less valued than those in stores as “seamless, premium omnichannel experiences are becoming essential, particularly in markets like the UAE”. And while three-quarters of these consumers prefer in-store shopping, younger generations, including Gen-Z and Millennials, are more likely to combine online and offline channels.