The New Rules of Luxury Spending

I recently read an article in Forbes: The New Rules of Luxury Spending analyzing the current climate of consumers regarding how they spend on their personal wants.

Here are some salient points that I would like to share with you:

Exclusivity will be embraced as well as quality and dependability. Consumers will be very careful and selective. Buyers will turn into strategic buyers…“carefully shopping price, authenticity and lasting power. We can say goodbye to the days of ‘shop til you drop.’”

Finding items that offer value and rarity will entice a consumer to spend. Deals are made, even with brand labels.

What are your thoughts about today’s consumer buying habits?

  • Are you willing to exchange quality for price?
  • Will you only buy deals?
  • Do you care where the item is made…if the product is made in the USA or overseas? 
  • Are you cutting back on the “wants” and only buying what is essential?

As fine purveyors of artful gifts, I would be interested in your thoughts.