By: Erwan Rambourg and the Global Consumer and Retail Team Equities Consumer, Tech, ESG January 2020 US Deluxe Checking in on luxury consumption in the US Our second US Deluxe survey checks in on consumer aspirations for premium products Luxury consumption should remain strong this year, despite concerns about consumer spending in an election year See brand preferences and up-and-coming trends in luxury, technology, consumer staples, and more Disclosures thematic investment strategies matter