Headlines

Luxury Sales Losing Luster

Report predicts low consumer confidence will lead to July sales decline

Published

13 years ago

June 29, 2011

VMSD Staff

Luxury sales are projected to decrease in July, according to Kurt Salmon’s Luxury Spending Trajectory, which was released this week.

For the first time in six months, the nation’s highest-earning consumers say they are ready to decrease their spending, according to the report.

“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,” says Greg Ellis, a retail and luxury strategist at Kurt Salmon. “But the luxury consumer's confidence tumbled and layoff concerns increased in June, both of which may dampen spending in July.”

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design