October 17, 2009
-- by Dave Johnson
Spending in the U.S. on luxury goods and services spurted 29 percent in the third quarter from the previous three months, as consumers with the highest incomes unleashed pent-up demand, according to Unity Marketing.
[. . .] “No question that this quarter’s spending increase is good news for luxury marketers,” Danziger said in a telephone interview today. “Many affluent consumers returned after sitting on the sidelines for a year. However, the richest are few in number, 2.5 million households, so competition will be fierce to win their attention.”
File this under Concentration of Wealth, Bailouts
Posted by Dave Johnson at October 17, 2009 11:19 AM
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