"Life Changing Experiences are Key to Luxury Market." The intriguing headline caught my eye and I read on. "Consumer spending on luxury goods rose 3.8 percent last year, and is poised to grow more in 2006 as middle-income shoppers opt for high-class brands and wealthy consumers turn to luxury experiences, retail experts said on Sunday."
Some interesting facts: "Spending on luxury experiences, including travel, dining, entertainment, spas and beauty services and home services, nearly doubled from an average of $11,632 in 2004 to $22,746 in 2005."
Once again, the baby boomers are to blame. "Americans already have enough stuff. They crave life-changing experiences. They're ready to climb the Himalayas," say the experts.
For more on this and the definition of "mastige" read on: via Reuters