Although the broader economy is placing added pressure on luxury players, Robin Lewis, CEO of The Robin Report, said problems would have emerged among U.S. luxury players regardless of cooling global trends.
He pointed to the fact that the United States has 20 square feet of retail space per capita, compared to 3 square feet per capita in the U.K., 2 square feet in France and Brazil, and 1 square foot in Germany.
"We get more and more international brands and designers wanting to open up shops over here because they think this is the biggest market in the world," Lewis said. "What they fail to understand is it's also the most complex market in the world."
To his point, Bain's report found that the U.S. personal luxury goods market raked in 78.6 billion euros ($87.6 billion) last year — more than Japan, China, Italy and France combined.
Meanwhile, the percentage of worldwide luxury sales derived from individual retail shops (as opposed to wholesale locations like department stores) grew its share of the market by 2 percentage points, to 34 percent of sales. Helping drive that trend were 600 new directly operated stores that opened in 2015, according to Bain.
"Luxury brands ... face a host of tough issues such as rethinking the size of their store footprint and the role of brick-and-mortar shops in a world of growing digitization," Bain said in its report.