The Evolution of the American Consumer

Wednesday, 18 May 2011

Harrison Group and American Express Publishing
The Wall Street Journal reports that although luxury goods such as Bentleys and Hermès bags are selling again; wealthy American consumers have changed.

The affluent are less trusting of brands than a few years ago and are redefining luxury as things that have an emotional quality as well as a high price tag. Ikram Goldman, owner of the Ikram store in Chicago, explains that clients now covet things that aren't mass-produced. Citing Rodarte as a perfect example due to its artful designs in limited quantities, Goldman explains, "They don't feel like they're a dime a dozen," she says. "Our customers are desperate for that."

Harrison Group and American Express Publishing
Laurence Geller, CEO of luxury resort brand Strategic Hotels & Resorts, recently revealed that his favourite place to shop is the Nordstrom Rack discount outlet in Chicago; and Harrison Group researchers found Costco and Target were the favourite stores of the wealthiest Americans.

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