Good news regarding the mood of America’s luxury buyers…
Results from the annual Survey of Affluence and Wealth in America are out today. The wealthy are expected to continue to increase their spending on luxury goods and services, but with with an eye toward value.
Spending on luxuries, excluding cars and travel, is set to rise 8 percent to $359 billion compared to 2010, according to the sixth annual American Express Publishing and Harrison Group survey.
Other highlights:
- 70% believe the US is still in a recession, but they are less anxious about it
- Concerns about potential job loss have fallen 50% compared to last year
- Only 11% are worried about the potential failure of their businesses, down from 28% last year
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