Luxury Market Insights - Affluent Consumers Plan Less Spending on Designer and Other Apparel
A record low level of spending by affluent consumers for both designer apparel and non-designer apparel is suggested by the most recent survey in a series of twice-yearly studies that began in Spring 2002. Negative attitudes about the current economy and the economic outlook for the next 12 months are contributing to plans for reducing designer apparel expenditures by affluent consumers during the next year, according to the Spring 2009 Affluent Market Tracking Study #15 conducted by The American Affluence Research Center. In the Spring 2009 survey of the wealthiest 10% of all U.S. households, spending for designer apparel during the next 12 months, in comparison to their spending for such items during the past 12 months, is to be reduced by 54% of the affluent consumers and to be increased by only 1% of the affluent consumers. The remainder (45%) expects to spend the same during the next year as in the past year. There is little difference in the designer apparel spending ...
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