Value of luxury must be clearly demonstrated, genuinely felt by wealthy to retain loyalty

April 8, 2026

New Bond Street in London's Mayfair district is one of the top luxury shopping destinations in the city. Image credit: Shutterstock

By Luxury Marketer Intelligence

LONDON – Luxury is not declining but being redefined.

While high-net-worth consumers remain confident and willing to spend, they are becoming more discerning, more emotionally driven and more critical of what constitutes real value. Rather than being assumed, value must now be clearly demonstrated and genuinely felt.

These findings were part of Singapore-based market researcher Agility Research & Strategy’s The Value of Luxury study inaugurated in London last week with luxury communications agency Fox Communications.

Value equation questioned
In an event hosted at the Corinthia London hotel, Fox Communications brought together industry leaders for an expert panel discussion alongside new research into the attitudes and behaviors of high-net-worth consumers.

The event examined how luxury is evolving in 2026, with a focus on shifting consumer expectations, the growing importance of emotional connection, and the increasing role of experiences, wellness, heritage and service in shaping perceptions of value.

The expert panel, moderated by Fox Communications CEO Lysbeth Fox, featured Helen Brocklebank, CEO of Walpole; Kristiana Karassoulis, head of luxury at TikTok; Natalie Voorheis, head of valuations at Bonhams; and Mike McClelland, London chair at Tiger 21.

Panelists discussing the value of luxury at Fox Communications' event last week at the Corinthia London hotel. The audience was shown the results of Agility Research & Strategy's latest Value of Luxury study. Image credit: Fox Communications

Per the Agility report:

The findings point to continued confidence in the market, with 47 percent of U.K. high-net-worth individuals expecting their wealth to grow, while 42 percent expect to increase spending on luxury experiences and 42 percent expect to increase spending on luxury products.

Together, these figures suggest that the sector is not in contraction, but at a point of inflection.

Experiences are emerging as the leading driver of value.

Seventy percent of respondents said they prioritize luxury travel and experiences, while 77 percent are planning leisure travel.

The research suggests that emotional connection, memory and human interaction are now central to how affluent consumers define worth.

Agility also identified the core factors currently shaping luxury value: intrinsic quality, controlled scarcity, cultural heritage and emotional resonance.

Of these, emotional connection is now the strongest driver of loyalty, indicating a notable shift away from purely transactional relationships between brands and consumers.

The audience at Fox Communications event in London to discuss the findings of Agility Research & Strategy's Value of Luxury study. Image credit: Fox Communications

Wellness is also playing an increasingly important role in the luxury landscape.

The research found that 95 percent of high-net-worth consumers engage in fitness, 93 percent in nutrition and 93 percent in longevity-focused behaviors, reinforcing the idea that wellness is viewed less as indulgence and more as an investment in self.

In luxury travel, expectations have reset around personalization, anticipation and seamless service.

According to the report, emotional memory has become the product itself, underscoring the extent to which experience-led luxury now defines value.

The research also highlights a growing emphasis on resale, provenance and legacy.

Forty-one percent of high-net-worth consumers said they value pre-owned luxury highly, suggesting that meaning, heritage and long-term significance are becoming more important than simple newness.

Lysbeth Fox, CEO of Fox Communications, hosted the event in London discussing how the HNW perceive the value of luxury

Loyalty, too, is shifting.

While 61 percent of respondents belong to VIP or VIC programs, the report shows that loyalty is no longer driven by transaction alone, but increasingly by emotion, status and connection.

At the same time, the research warns that luxury value remains fragile and can be quickly eroded by over-distribution, over-accessibility, transactional loyalty models and poor service.

THE FINDINGS reinforce that in today’s market, product alone is no longer enough: heritage matters more than novelty, loyalty is emotional, and value must feel meaningful rather than merely premium.

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Value of luxury must be clearly demonstrated, genuinely felt by wealthy to retain loyalty

Value of luxury must be clearly demonstrated, genuinely felt by wealthy to retain loyalty

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