Luxury shoppers leave behind pre-recession buying habits

05/15/2013 | Bloomberg

Many U.S. consumers with incomes of $250,000 or more slowed their spending on luxury items during the recession and are still cutting back from brands such as Prada and Armani to less-expensive brands including Ralph Lauren and Coach, despite a recovered stock market and a rebounding real estate market. "They do not feel as wealthy. They increasingly feel that their wealth is threatened, real or not," said Pam Danziger, president of luxury research firm Unity Marketing.

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