Economic recession kills luxury-industry


More and more than millionaires are compelled to refuse for a while from habitual prodigal purchases to save up the business and the capital.

One of these days new index Stonehage Affluent Luxury Living has been published. It pays off for the majority of ultra expensive goods in the world. This year Research has shown interesting feature of consumers of luxury. They are people, who have got used to advance a course of history on some steps.

Stonehage Affluent Luxury Living has shown reduction in demand for a lot of the luxury-goods. It has led to delay of a rise in prices on the magnificent goods. In particular, in the Great Britain in April inflation of the prices in the given segment has decreased in annual calculation almost twice. And some goods, for example, premium-class cars and watches, have shown even a deflation - having fallen in price.

It shows, that some rich British have decided to refuse from purchase of expensive goods for a while. Maybe, millionaires from other countries will also follow their example. Under some information, even more disturbing situation has developed in the luxury-market of Spain. But to manufacturers of the goods with «the high added cost» do not worry. Large international brands hardly will feel that British and Spaniards began to spend for luxury less. In fact there are such large markets, as the Near East, China or Russia…

This entry was posted on Sunday, August 10th, 2008 at 1:17 pm and is filed under The Richest. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.


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