As Recession Stops Splurges, Luxury Retailers Retool
Jan 27, 2010 with Comments 0
The “aspirational shoppers’’ – middle-class consumers with luxury tastes – have disappeared during the Great Recession. Their new found frugality has contributed to an estimated 16 percent plunge in luxury spending over the past year, according to a report by Bain & Co.
But retailers are not giving up so easily; they are trying to rekindle middle-class America’s love affair with luxury by working with designers to create lower entry prices for high-end brands like Gucci and Christian Dior.
Read the full article in The Boston Globe here
Filed Under: Luxe Blog
