What The Wealthy Are Purchasing Now

Declarations that ''luxury is dead'' had been premature, as high-priced, must-have

items sell out prior to they are even accessible.

Take a stroll down Madison Avenue previous glittering shop windows exactly where $5,000

ostrich handbags and $150,000 drop diamond earrings are on show. If you are

like me, you might discover your self questioning if people--men, ladies, anyone--are

really purchasing this stuff. Apparently they're.

While most customers are not returning to their pre-recession buying patterns,

there has been a rebound in luxury spending recently. Ultra affluent shoppers, who

were by no means truly impacted by the downturn to start with, have began to come

out of hiding. Other well-heeled shoppers have began to acquire self-confidence

because of their rebounding stock portfolios and also the return with the body fat bonus

check.

According to a MasterCard Advisors' SpendingPulse, a month-to-month report that tracks

consumer spending, the luxury category saw a 15% improve in sales in February

over exactly the same period in 2009. This constructed around the momentum from January when there

was an 8% improve on luxury spending more than January 2009. Consumers are coming back,

albeit using the battle scars with the recession and maybe, just a little much more subdued

than prior to: Today's luxury shopper is discreet, expects her purchases to become

unique and is only splurging on especially unique items. And also the cost tags?

Think large. Believe truly large!

Ten Outrageous Splurges

Take luxury sunglass chain Ilori, that is owned by Luxottica Group. Final month

a lady on trip from San Diego walked into Ilori's Las Vegas CityCenter

store and plunked down $25,000 on a pair of Sama diamond-encrusted gold

sunglasses. Just two weeks later a comparable diamond-encrusted pair in the exact same

price was sold within the exact same shop.

Michael Hansen, Ilori's vice president and common manager credits the rebound

in sales to sustaining what he refers to because the retailer's "hour glass

positioning." Hansen says, "We have an entry cost point that permits the