Consumer Attitudes Toward Luxury Goods - US - March 2010
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The poor economy has influenced US consumer attitudes and their purchasing behavior for all consumer products and services. The word luxury is used so often that its meaning has become diluted. The terms affluent luxury and aspirational luxury are also blurring as premium brands trade down and mid-priced brands trade up. Conspicuous consumption has been replaced with affordable luxury as consumers increasingly seek value over status. Mintel’s exclusive survey explores how consumers define luxury goods and how their attitudes and behavior towards owning luxury items are shifting. The key areas discussed in this report include:
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What’s Shaping Demand – Today And Tomorrow.