Since the bottom of the recession, public luxury company valuations have more than doubled compared to the valuations of their mainstream peers. Luxury retailers and manufacturers are benefitting from this regained confidence. Recovery of the stock market, up 60% in the past two years, also boosts the luxury consumer’s confidence and spending power, as higher-income consumers are more likely to own stocks than those earning less. High-income consumers appear to be recovering faster from the recession than lower-income consumers and are also less likely to be worried about losing their jobs. Luxury consumers have a reason to be confident. Of the luxury consumers surveyed-those in households with annual incomes of $150,000 or greater-42% say they are confident or very confident in the economy, compared to 28% for lower-income consumers. The index, based on multiple measurements of consumer sentiment, is released monthly and provides insight into the following month’s revenue growth in the luxury sector. The luxury market is expected to remain strong, according to Kurt Salmon’s Luxury Spending Trajectory. The High-End Customer Returns From Exile Best Practices from Kurt SalmonĪs the economy begins to recover, high-end consumers are coming out of their self-imposed shopping hibernation, creating a bright outlook for the luxury segment.
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