Related: Luxury spending springs up 29% in third quarter
Affluent shoppers spent more
Of course, we have forgotten all about them, right, Glob?
"As recession stops splurges, luxury retailers retool; Name brands out, high quality in" by Jenn Abelson, Globe Staff | January 26, 2010
Liz Wyman is emblematic of the “aspirational shoppers’’ - middle-class consumers with luxury tastes - who have disappeared during the Great Recession. Their newfound frugality has contributed to an estimated 16 percent plunge in luxury spending over the past year, according to a report by Bain & Co....
“There was a catastrophic dropoff in demand,’’ said Michael Silverstein, a senior partner at the Boston Consulting Group, which estimated that middle- and upper-middle-income households accounted for up to 70 percent of luxury spending a few years ago. “Great retailers have taken it on the nose.’’--more--"
You see why I no longer like the lying business bulls*** of the Boston Globe?
It ISN'T EVEN NEWS!
It is PURE AGENDA-PUSHING BULLS***!!!!