Report: Luxury Shopping on the Rebound

The New York Times had a fascinating article this week about luxury shopping trends in the U.S. According to the story, wealthy shoppers are still purchasing "designer clothing, luxury cars and about anything that catches their fancy." High-end stores are "zooming" out of the recession, and are even able to mark up, rather than discount, their products.

"While the free spending of the affluent may not be of much comfort to people who are out of jobs or out of cash, the rich may contribute disproportionately to the overall economic recovery," the article continues.

All of which begs the question: How will this impact luxury travel? We spoke with some luxury travel advisors recently, and got some interesting insights into the market, but with the economy sitting on a precipice this week, buying patterns can change in a minute.

How do you feel the reemergence of luxury shopping will impact the travel industry? Sound off on Facebook or email us your thoughts. 
 

Free Luxury Travel Newsletter

Like this story? Subscribe to The Dossier

Luxury Travel Advisor’s only newsletter, covering unique destinations and product news for affluent travelers. Delivered every Tuesday & Thursday.

Suggested Articles:

ASTA sent its reactions to President Biden's “Executive Order on Promoting COVID-19 Safety in Domestic and International Travel" to its members.

Travel Experts added 40 ICs—with most of them attributing their move to the agency's "staff support" and having a "no-split pay policy.…

Joe Biden and Kamala Harris have been sworn in as president and vice president of the United States. Here's what the travel trade has to say.