Luxury Consumer Confidence Recovers at End of Third Quarter Nov 1, 2006

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Luxury consumers’ confidence rose at the close of the third quarter, as measured by Unity Marketing’s Luxury Consumption Index which reached 103.3 points, up from 99.2 at the end of second quarter. But luxury consumers’ spending on luxury didn’t match their rise in confidence. This according to the latest result of Unity Marketing’s Luxury Tracking survey of over 1,000 luxury consumers (average income U.S. $149.1k) conducted in Oct. 2006.

Luxury consumers spent on average $13,432 buying luxuries in the third quarter, which was 9.6 percent less than they spent in the second quarter. With a few exceptions — notably luxury electronics, furniture, clothing, fashion accessories, wine and spirits — the amount luxury consumers spent in most categories declined, with the spending levels of the super-affluent consumers (those with incomes of $150,000 and above) dropping the most.

These findings are based upon Unity Marketing’s quarterly luxury tracking study that surveyed 1,048 luxury consumers (average income $149.1k and age 43.4 years). Luxury items taken into account include TVs, computers and kitchen and outdoor appliances. Year-end 2006 statistics compiled from the four 2006 tracking studies will be published in Unity Marketing's Luxury Report 2007 - Who Buys Luxury, What They Buy, Why They Buy.

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