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.

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