The Evolution of the American Consumer

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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