Luxury consumers' attitudes about the economy and their personal financial status have sea-sawed over the last six months, but ended 2005 with a strong upward trend. Significantly more luxury consumers feel their personal financial situation is better now than three months ago and that the country overall is better off. But while they feel better, the residual effects of the ups-and-downs they experienced in the recent past makes them a little tighter when it comes to luxury spending. In other words, they are more likely to take any windfalls to the bank, rather than to the store.
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What we see with those affluent consumers is they bring their middle-class values into the luxury market, so they're really the middle-class luxury class. They are looking for discounts and sales and they buy the majority of their luxury goods on sales or at discount. They have this middle-class orientation and they know how to save money.
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Jewelry has become an affordable luxury for fashion-forward women and men, as well as a favorite gift item in all price ranges. The jewelry market is becoming more democratic in the past decade as good quality and high design jewelry is now available at a much wider range of retailers. After all, Wal-Mart Stores with over 2 billion in jewelry sales in 2000 is now the nation's largest jewelry retailer.
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Based on Topics: Countries Quotes, Money & Wealth QuotesBased on Keywords: residual, ups-and-downs, windfalls
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