Boston.com Reports That Luxury Spending is on the Rise

Boston.com reports a major rebound since the recession in luxury shopping. In November Saks Fifth Avenue reported sales up by 9.3 percent when compared to last year.  Nordstrom also saw a 5.6 percent rise. Non-luxury stores such as Kohl’s reported the opposite – a 6.2 percent drop.

A Deloitte & Touche survey showed that US households with incomes under $100,000 plan on spending about 12 percent less this holiday season whereas households above that income bracket expect to spend about 3.5 percent more than last year. The firm accounts for this up swing in high end spending by a change in attitude. These households feel confident that their portfolios are recovering, said Deloitte & Touche.

For luxury shopping in Boston head to Copley Place, in historic Back Bay, with 75 stores including Tiffany & Co., Iridesse Pearls, Barneys New York and Jimmy Choo.

Read more…

 

FREE Virtual Event

Pivoting Back to Travel: Phase 4

Are you prepared to guide your clients through the “new normal” of travel? Join us December 15, 2020 from 1pm-2:20pm EST for Pivoting Back to Travel: Phase 4. The upcoming installment of our FREE virtual series will feature presentations from the Cayman Islands, Dominican Republic, and Seabourn on their most up-to-date travel procedures, health & safety protocols they’ve implemented to keep guests safe, activities that are open to visitors, what your clients need to know while on their trip and more! Visit www.pivotingbacktotravel to view the full agenda and register for your FREE pass.
Read more on:

Suggested Articles:

A group of travel agencies have formed an alliance to create Aspire Associates Group, with a “mission to make our agencies and our industry stronger.”

Azamara is launching a new "Masterclass Series" of on-demand videos to support travel advisors. Here's what you need to know.

Embark Beyond has just launched a Dual Citizenship Program, facilitating foreign citizenship and second passports for 15 E.U. countries. Read more.