Global Luxury Goods—Card Insights: US Luxury credit card spend–June resilient amid improving sentiment

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Global Luxury Goods—Card Insights: US Luxury credit card spend–June resilient amid improving sentiment

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08 Jul 2026 00:00:00 ET │ 36 pages

Global Luxury Goods—Card Insights

US Luxury credit card spend – June resilient amid improving sentiment

CITI'S TAKE

Total Luxury Brands’ credit card spend rose 3% YoY in June, marking a sixth

consecutive month of growth broadly in line with May, amid easing AC Thomas Chauvetgeopolitical and macroeconomic uncertainty. This was achieved against a

~9ppt softer comparison base, with 2Y‑stacked spend turning negative to – +44-20-7986-4147

8% from +2%. Average transaction values (ASP) decelerated slightly but thomas.chauvet@citi.com

remained up double-digits, offset by improving transacting‑customer Monique Pollard

trends (volumes), down 7%. Inflation concerns eased in June, supporting

consumer confidence. The Conference Board index edged higher as +44-20-7508-0686

improved business and income expectations offset softer current labour monique.pollard@citi.com

and business conditions, while the UMichigan survey rebounded on Alberto Cecchetto

stronger business expectations. US consumers remain resilient, particularly +44-20-7986-5408

at the higher-end of the income spectrum, supported by wealth effects

from equity markets and steady wage growth. However, discretionary alberto.cecchetto@citi.com

spending remains vulnerable to deteriorating geopolitical conditions or

renewed inflationary pressures, particularly against a backdrop of negative

real income growth and ongoing savings erosion.

General Description — Card Insights represent a selected subset of Citi’s credit card

transactions and are not representative of Citi’s overall credit cardholder population.