AlixPartners Consumer Sentiment Index 2024

Consumers are back in stores and incredibly frustrated with inconsistent pricing, service, and inventory levels.

“Retailers need to reallocate resources to what matters for consumers—nailing the seamless experience and getting the right product in the right place,” says Sonia Lapinsky, Partner and Managing Director of the Global Fashion Practice at AlixPartners, and an author of the 2024 AlixPartners Consumer Sentiment Index. “It’s crucial for retailers to hit the mark this season, or consumers will take their dollars elsewhere.”

The survey canvasses 9,000 consumers across nine fashion sectors, with findings to guide strategy according to demographic and retailer niches. Among the top findings:

• Chanel is winning luxury; no one else is even close: Chanel resonates with consumers the most and ranked number one for all pillars: product, price, access, service and experience. Chanel’s experiential initiatives hit the service experience sweet spot and reinforce quality and personalization. Runners-up Louis Vuitton and Gucci scored well on white-glove service and personalization.
• Legacy dominates the athletic footwear race, but newcomers are in pursuit: Nike remains the clear leader in the Consumer Sentiment Index, with 2.5 times more respondents ranking it number one than the next name on the list. Hoka made the list due to strength among aging consumers.
• Loyalty is being tested: Eighty percent of consumers want attractive loyalty programs, but less than a third think these programs are worth it or incentivize purchases (Generation Z are more forgiving, but they are also newer to the game). Crucially, the message isn't getting through: Less than half of consumers find programs compelling and easy to use.

The survey also dissects demographic preferences across pillars and sectors, from Gen Z to Millennials, Gen X, and Baby Boomers.