More Luxury Bad News: High-Income Women Shopping Less

by Rigel Celeste (RSS feed)
Jan 16th 2008 at 4:05PM

Women love to shop...it's like a law of nature or something. But it's no secret that lately the economy has been slowing down and the luxury market has been taking a hit -- high-income women may still love shopping but they're doing it a lot less. So how do luxury retailers plan to weather this storm? By making their products so compelling and irresistible that other purchases are put on hold to make room. High-end shoppers on a budget are not likely to trade down and start shopping at cheaper retailers, but instead they just become choosier with what they buy. In other words they may be buying less, but they're not stopping completely. So that awesome new handbag may have to yell a little louder to get attention, but it can still call your name like it always did.

Tags: economy, luxury, news, retail, shopping, spending, women

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Andrea Feb 6th 2008 5:43PM

This is kind of stupid.. the economy is in a recession, whether people want to admit it or not, so of course they aren't going to waste what money they have left on a $300 purse. I love designer brand names, but it is impractical to spend a lot of money on something you don't necessarily need. I wonder how they will draw customers in to buy things.. lower prices? That would probably hurt the companies in the long run since our purchasing power is decreasing.