Jul 27, 2007

Luxury Consumers Spent More Buying Luxuries in the Second Quarter, but Consumer Confidence Wavered

Stevens, PA — Affluent consumers went on a spending spree for luxuries in the second quarter 2007. The typical luxury consumer spent $15,283 buying luxury goods and services during the second quarter, 9 percent more than the average expenditure of $14,024 in the first quarter. This according to the results of Unity Marketing’s Luxury Tracking survey of 1,000 affluent consumers conducted at the close of the second quarter 2007 (average income $155,500 and average age 44.3 years).

Industries benefiting from increased luxury consumer’s spending included:

• Luxury electronics (average spending rose 14.5 percent); home decor fabrics, wall and window coverings (61.5 percent) ; kitchen appliances (8.4 percent); linens and bedding (11.4 percent) and tabletop (42.5 percent) in the luxury home sector.
• Luxury fashion accessories (28 percent increase); cosmetics and beauty products (33.8 percent); jewelry (54.6 percent) and watches (20.3 percent); and wine and spirits (12 percent) in the personal luxury sector.
• Luxury automobiles (13.8 percent increase); and
• Luxury dining (23.1 percent increase), entertainment (52.9 percent), and travel (21.4 percent), all in the luxury experiences sector.

For more information about the study, please visit: unitymarketingonline.com.