aspirational

High-End Retailers Seeing A Slow Down

There has been a definite slow down in the spending habits of the average American consumer this holiday season, and although the super rich weren't predicted to be affected the modestly rich, or "aspirational consumers," were another story. They were expected to slow down with the rest of us, and it seems those predictions were right on. Some of the biggest retailers catering to both the very wealthy and the merely "well-off" are making note of major slow-downs -- and even a loss of some of their customer base as many of their lower-income clientele retreat from stores like Neiman Marcus and Nordstrom to Kohl's and JCPenny's.

Are you spending less this holiday season?

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Tags: aspirational, consumers, economy, holidash, holidays, shopping, spending, spending habits, SpendingHabits, wealthy

Aspirational Consumers Spending Less

by Rigel Celeste (RSS feed) —

Filed under: Celebrity Shopping

Although the super-rich are still spending money like they always do, they aren't the only ones who support the luxury market and signs seem to say that some other groups, namely the next level down, are getting a little tight-fisted with the cash. Many high-end retailers are reporting disappointing sales and drops in demand by as much as 20%, and the usually highly anticipated Christmas shopping season is looking "cloudy at best."

So far the most affected consumers seem to be households earning $50,000-$150,000, with spending suffering less as household income increases. However, experts warn that if this trend continues even the richest spenders may begin to curtail some of their habits.

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Tags: aspirational, consumers, economy, luxury, masstige, shopping, spending, spending habits, SpendingHabits