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VICs drive luxury growth: 1% of customers contribute 21% of spending

According to the 10th edition of the Consumer and Retail Insight Report by Altagamma, the VIC (Very Important Customer) segment is emerging as a key driver of growth in the luxury goods market. Currently, there are approximately 400 million luxury consumers worldwide, with expectations they will reach 500 million by 2030. Despite VIC consumers constituting less than 1% of the total customer base, they contribute to 21% of total expenditure, which is over 200 times more than average consumers. Luxury brands derive an average of 30% of their revenue from these high-end customers. Moreover, the research highlights that VIC customers exhibit higher loyalty towards customer advisors than towards the brand itself, with 70% of surveyed consumers expressing willingness to switch brands to follow their preferred advisors.

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