Despite the recent economic crisis, luxury retail spending has gained momentum as affluent U.S. consumers continue to regain confidence, according to a survey from American Express Publishing and Harrison Group.
Luxury consumers are expected to spend an extra $26.6 billion on luxury goods this year. According to the sixth annual American Express Publishing and Harrison Group survey, spending on luxuries, excluding cars and travel, is set to rise 8 percent to $359 billion compared to 2010.