By Rob Starr, Content Manager, Big4com
According to new research from Accenture (NYSE: ACN), Half of U.S. consumers are likely to make a small luxury purchase in the next six months, including 53 percent who are likely to purchase specialty food or drinks, 48 percent to purchase luxury clothing and 48 percent to purchase luxury personal care products.
“As consumers show an increasing willingness to splurge on luxury, retailers and brands can build loyalty by offering a strategic selection of smaller-ticket luxury items to complement their more significant products,” said Tom Jacobson, managing director of the Accenture Pricing & Profit Optimization practice. “Consumers want a taste of luxury in their everyday lives, and are willing to spend a little extra for the experience, but the emphasis is on small items. They may think twice about purchasing a new handbag, but shop for a wallet as an alternative.”