Accessory Purchase on the Rise

Pam Danziger, President of Unity Marketing, told the audience at the National Retail Federation’s Annual Convention that luxury consumers ended 2005 on an up swing. Personal luxury spending per household – including purchases of luxury apparel, fashion accessories, and jewelry and watches – rose 5.6 percent to $10,007 in 2005. Danziger did go on to say that that luxury consumers are spending more on life-changing experiences, while their need for luxury goods is waning.