"Since 2008, there has been a noticeable shift in North America towards premium but accessibly priced luxury, as the spending habits of the domestic consumer have transitioned away from ultra-high-end purchasing," Barclays analyst Joan Payson said. "Making these products even more accessible has been the strategic rollout of off-price, both in the expansion of brand-operated outlets and high-end department stores expanding their own off-price formats."
(Read more: Middle class buying luxury again—but at a bargain)
Domestic luxury accessories brands price more than 90 percent of their goods at less than $1,000—a significant discount to global competitors, who offer less than 50 percent of their assortment for less than $1,000. Whereas Coach prices a number of its tote bags near $300, a Gucci tote can run closer to $2,000.
These accessible prices, paired with opportunities to expand abroad and grow their presence in both branded stores and online, resulted in Barclays predicting U.S. luxury companies will outperform the global luxury space from 2013 to 2016, posting 8 percent to 10 percent growth. It predicts the overall global space will grow 3 percent to 5 percent over the same period.