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. 
 

Suggested Articles

ASTA's latest efforts to fight AB 5 includes sending letters to news outlets about the importance of amending the bill to protect California small…

London Heathrow, Gatwick and Stansted could be hit by strike action as the busiest travel season of the year gets underway. Learn more here.

ASTA spoke about the status of the bill, the likelihood that the travel industry receives and exemption and what agencies can do to prepare for the bill if it…