Affluent Americans are pulling back in luxury spending. LVMH, Tapestry, Capri Holdings and Ralph Lauren are seeing the results in their latest earnings reports.
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Consumer Worries: Why the second half of the year could be rough for retailers
Yahoo! Finance asked me about what the second half of the year holds for retailers…and it doesn’t look good. Get the story with James H. Gellert, Rapid Ratings.Click Here
Aspirational Consumers Pull Back, Driving Down Luxury Leaders’ U.S. Sales
The leading global luxury brands showed topline gains for the first half of the year, despite a drop in sales in the U.S., where aspirational consumers are stretched thin and have cut back on indulgent purchases.In most recent reporting, all but Kering showed outstanding topline gains – LVMH was up 15% to $46.5 billion and […]
Investors Are Losing Confidence In Luxury Brands
When sales should be booming, many luxury brands saw their sales slow or even decline in the last quarter of 2022.For example, LVMH, the industry’s pacesetter and market-share leader generating $86 billion last year, experienced a slowdown during the fourth quarter, with organic revenues up only 9%, after double-digit increases in the ~20% range during […]
What Consumer Psychology Reveals About Our Urge To Splurge
Deloitte is out with new research that found the urge to splurge is universal, indulged in by nearly equal measures regardless of the consumer’s age, income or gender.Its survey, which spanned 23 countries and over 114,000 adults, found nearly 80% said they made at least one splurge purchase to lift their mood in the past […]
