Inconspicuous Consumption

For all the uncertainty about the current state of the economy, everyone is sure of one thing: this recession has permanently remade American consumers, turning them from spendthrifts into tightwads. (The New Yorker)

LuxuryLab Daily Digest

Will Consumer Spending Change Once the Recession Ends? (Huffington Post)
Two of the big questions facing marketing managers today are: (1) when will consumers open their wallets again; and (2) will consumers behave differently when they do?

Gilt Group’s Jetsetter Takes Off (CNN Money)
Online sample-sale company tries to bring its model to luxury travel.

The Wealthy Are Cutting Back on Thoroughbreds (Wall Street Journal)
Along with yachts, private jets, mansions and Ferraris, we can now add another elite asset class that’s ailing: thoroughbred horses.

Surprise! Incomes of the Rich Are More Volatile (Wall Street Journal)
Michael Moore and others on the far left correctly point out that the wealthy captured the bulk of the economic benefits during the boom times.

Will Consumer Spending Change Once the Recession Ends?

Two of the big questions facing marketing managers today are: (1) when will consumers open their wallets again; and (2) will consumers behave differently when they do? (Huffington Post)

Cuts Meet a Culture of Spending at Condé Nast

At Condé Nast, it is consultants versus car service. A three-month McKinsey & Company project advising the publisher how to reduce costs is drawing to a close, and several magazines have been told to cut about 25 percent from their budgets. (New York Times)

LuxuryLab Daily Digest

Waiting For Deep Pockets to Open (Washington Post)
Recovery may well wait on the wealthy to step up their spending.

Out on the Edge (Black Coffee)
Thoughts on the keys to maintaining your edge as a brand.

Richemont Sales Sink 16%; Group Urges Caution (Market Watch)
Luxury-goods maker Compagnie Financiere Richemont, on Wednesday reported a 16% fall in sales for the first five months of the year and delivered a cautious outlook, as wealthy customers curbed their demand for high-end watches and jewelry.

Tillman Buys Storied Clothier Aquascutum (Wall Street Journal)
U.K. retail mogul Harold Tillman, chairman and majority owner of Jaeger Ltd., has purchased Aquascutum Group PLC, the luxury clothier and trench-coat maker that has dressed British elites from Margaret Thatcher to Sean Connery for 158 years.

Waiting for Deep Pockets to Open

In this new era of frugality, well-to-do shoppers have gone into hiding and stowed away their splashy logos. But they may hold the key to a consumer recovery. (Washington Post)