Money may not buy happiness, but it sure can buy a lot of stuff.
According to Unity Marketing's latest Luxury Tracking Survey, affluent consumers' confidence is on the rise, growing at its fastest pace ever. Likewise, spending on luxury goods has increased more than 25 percent over the previous quarter.
While affluent consumers are out buying from a wide variety of luxury categories, they are also doing quite a bit of economic mix and matching. It's not unusual these days for a consumer to match a shirt from Target or Kohl's with jeans purchased from a True Religion or 7 For All Mankind.
"They're shopping at Kohl's and designer outlet stores," Pam Danzinger of Unity Marketing told the Minneapolis Star Tribune. "They're just as happy to look for a diamond at Costco as at Tiffany."
- Affluent consumer confidence is on the rise, signaling new willingness to indulge in luxury purchases - Unity Marketing
- Prospects Bright for Strong Holiday Sales among the Nation's Luxury Consumers—Find Out Which Brands Will Benefit Most! - Unity Marketing
- Shopping in the ever-expanding lap of luxury - Minneapolis Star Tribune
- Affluency: New Definitions of Luxury - Advertising Age
- The 47 Percent May Struggle but the Top 20 Percent Are Feeling Flush - The New York Times