Luxury Consumers' Confidence At Record High
Unity Marketing, which tracks affluent consumers through its quarterly Luxury Tracking Survey, says confidence among well-heeled shoppers is at its highest level since the index launched back in 2004. And they’ve got the receipts to prove it, with luxury purchases up 25.8%. The survey tracks consumers with an average income of some $290,000 per year, and an average age of 44.
"Over half of affluent consumer surveyed feel they are financially better off today than twelve months ago; this measure hasn't been this high since 1Q2011,” says Pam Danziger, president of Unity Marketing, in a release. “Rising even more sharply is the percentage of luxury consumers who feel the country as a whole is doing better now as compared with three months ago. Some 37% of affluent surveyed feel the country is now moving in the right direction, up 15 percentage points from last quarter."
Spending gains were strongest in luxury clothing, kitchenware, and beauty.