According to various retail consultants quoted in recent media publications, the current recession has average American consumers entering into a “new normal” that will be characterized by less household debt, higher personal savings, and less consumption. This behavior is being projected for the affluent market also, thus suggesting an extended

In November 2008, Newsweek published an article stating that the American affluent population was “experiencing an unfamiliar emotion:  luxury shame”.  The article, as well as several others that have appeared in various media since then, explained that across America, the affluent population was straying from conspicuous consumption, and engaging in

Contrary to popular perception, affluent Americans do not spend lavishly on luxury hotel suites on Park Avenue. In ground breaking research on the definition of luxury and the spending habits of the wealthiest 10% of US households, respondents to a survey by the American Affluence Research Center were asked to specify

Contrary to popular media hype, wealthy Americans do not spend wildly on luxury cars, opulent hotel rooms, or 4000 thread count sheets. In ground breaking research on the definition of luxury and the spending habits of the wealthiest 10% of US households, respondents to a survey by the American Affluence Research

Contrary to assertions by some luxury market and retail consultants that the current economic problems are creating longer term changes in their lifestyles and reductions in spending on luxury and conspicuous consumption by America’s luxury consumers, Ron Kurtz, President of The American Affluence Research Center (AARC) believes that “most of

“Luxury is a very ambiguous word that is used very loosely”, according to Ron Kurtz, President of The American Affluence Research Center (AARC), which has conducted a survey that provides a new view of the luxury market and how luxury consumers define luxury. In this survey, the affluent defined luxury

For several years, luxury retail and marketing consultants have fed the media with anecdotal research about the luxury market as though the purchases of $700 Manolo Blahnik shoes, $1,000 Prada hand bags, and $250 True Religion jeans are common place among luxury consumers. But the affluent women in a survey of

The potential market for vacation homes, including full ownership and private residence and destination clubs, has declined substantially from 2007 levels, reflecting losses in net worth and a negative 12-month outlook for the economy and personal income among the wealthiest 10% of US households surveyed in March 2009 by The

A record low level of new motor vehicle acquisitions by affluent consumers is suggested by the most recent survey in a series of studies that began in Spring 2002. Negative attitudes about the current economy and the economic outlook for the next 12 months are contributing to plans for deferring the

Record low levels of spending for both domestic and international vacation travel are suggested by the most recent survey in a series of twice-yearly studies that began in Spring 2002. Negative attitudes about the current economy and the economic outlook for the next 12 months are contributing to plans for reducing