Most Wealthy U.S. Shoppers Plan to Keep on Spending on Luxury
Travel and Technology Are the Biggest Beneficiaries, but Jewelry and Antiques Look Vulnerable to Cutbacks
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 09/21/11 -- The new "State of the Luxury Industry According to U.S. Consumers 2009-2011" survey from the independent and objective New York City-based reveals that two-thirds of U.S. households earning at least $150,000 per year do not plan to trim spending on luxury purchases in coming months, a three year-high for optimism.
Although 32% of wealthy consumers report spending less on luxury recently due to the economy, that's down from 37% in August 2010 and 42% in August 2009 who reported cutting back. Furthermore, 10% report boosting luxury spending in recent months, up from 7% who said the same last year. Many (39%) still report buying what they need instead of what they want, down from 55% who were similarly cautious two years ago.
Good news for hotels and Apple: the top two luxury categories on which the wealthy indicate plans to spend more are travel (18%) and technology (16%). Other notable turnarounds include automobiles, where 11% of the wealthy plan to spend more, up from 8% in 2010.
Jewelry (39%), antiques (37%), custom apparel (34%), art (34%), handbags (33%) and watches (33%) top the list of likely areas for the wealthy to cut.
"Despite all of the turmoil in the economy and markets, wealthy shoppers show remarkable resilience," says . "Rewards accrue to retailers who focus on providing exclusive objects and experiences with impeccable service."
For more details and full survey results, visit .
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The Luxury Institute is the objective and independent global voice of the high net-worth consumer. The Institute conducts extensive and actionable research with wealthy consumers about their behaviors and attitudes on customer experience best practices. In addition, we work closely with top-tier luxury brands to successfully transform their organizational cultures into more profitable customer-centric enterprises. Our Luxury CRM Culture consulting process leverages our fact-based research and enables luxury brands to dramatically Outbehave as well as Outperform their competition. The Luxury Institute also operates , a membership-based online research portal, and the Luxury CRM Association, a membership organization dedicated to building customer-centric luxury enterprises.
Martin Swanson
Vice President
(914) 909-6350
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Datum: 21.09.2011 - 18:00 Uhr
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