Luxury sales are projected to decrease in July, according to Kurt Salmon’s Luxury Spending Trajectory.
Intent to spend started heating up in January and climbed steadily until now. For the first time in six months, the nation’s highest-earning consumers say they are ready to cool down their spending.
“High-end consumer enthusiasm was visible in May, and this is reflected in positive same-store sales growth figures. Saks, with comps at their highest level since November 2007, led the pack,” said Greg Ellis, retail and luxury strategist. “But the luxury consumer’s confidence tumbled and layoff concerns increased in June, both of which may dampen spending in July.”
29 June 2011