December 15, 2022The “Fashion and finance: The new economic realities of luxury consumers” webinarWomen are lessening luxury budgets, as 32 percent reported a decrease in spending on expensive goods.Meanwhile, men are leaning in — almost a third actually increased the number of designer fashion digs acquired over the last 12 months. This is more than double the number of women — 15 percent — who shared news of an increase.Across the board, those who have exchanged up to $2,000 this year for luxury goods are closing checkbooks, with 31 percent reporting reduced elective spending.Winners take all
Webinar speakers suggest that, overall, results signal a level of resilience amid an anticipated economic downturn, as a good majority of group members, three of every four, have made no changes to spending.In fact, when further stratified, results imply that those of greater means may carry the whole.Shoppers who have allocated more than $5,000 to designer buys continue to increase the
