Tags: High-End | Shoppers | Opening | Wallets | Again

High-End Shoppers Are Opening Wallets Again

Monday, 17 May 2010 10:53 AM


Analysts say the steady, albeit slow, economic recovery is prompting higher-end shoppers to splurge again -- on everything from $200 pearl necklaces to $500,000 cars to million-dollar homes, according to a report in boston.com.

Nationally, sales of luxury goods rose 22.7 percent in March, compared to a year earlier, according to SpendingPulse, an information service of MasterCard Advisors.

High-end retailers, home sellers, and car dealers are all experiencing an uptick in business, according to the boston.com report.

Nordstrom reported a 16.8 percent increase in same-store sales (sales at stores open at least a year) for March, while Saks Inc. had a 12.7 percent increase for the same period.

To read the full boston.com report Go Here Now.

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