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Survey Shows Luxury Spending Returning
Posted: April 22, 2009
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"We remain cautious about the luxury market's prospects after the recession," said Tom Bodenberg, chief economist, Unity Marketing. "It is likely that there will be an uptick in luxury consumer spending once the recession has played its course, as some affluents will relieve pent-up demand for luxury goods as a vehicle of lifestyle aspiration and expression. At the same time the media's focus on 'recession chic'—personal expression that deliberately excludes luxury goods—may leave a lingering distaste for conspicuous consumption and parading luxury labels."