Unity Marketing: Affluent Consumer Confidence Drops
July 29, 2011,
STEVENS, Pa.-Consumer confidence among the country's wealthiest shoppers dropped significantly in the second quarter, according to Unity Marketing's recent Luxury Consumption Index.
The index dropped nearly 18 points to 66 points, which stands close to the level attained at the onset of the Great Recession in 2007.
Corresponding to the decline in luxury consumer confidence, the average amount spent by affluent consumers on luxury goods and services in the second quarter 2011 declined by 8.4 percent from the first quarter and dropped 18.4 percent over the same quarter last year, according to Unity Marketing.
The market research firm defines affluent luxury consumers as possessing an average income of approximately $300,000 and a median net wealth of $856,000.