While major luxury retailer Nordstrom announced that its second quarter sales in 2013 increased by 6.4% over the previous year at this time, the actual sales were lower than forecasted.
The figures indicate that affluent shoppers are gaining confidence in the market and shopping more liberally to reflect said disposition. Net income for the Seattle-based deluxe retailer increased to $184 million from $156 million in a year-over-year analysis.
Pam Danziger, president of Unity Marketing, a market research firm that tracks the ebb and flow of the luxury industry conveyed in a written report.
…"We have seen plenty of minor spikes in affluent consumer confidence since 2010, but the latest one at the start of the third quarter 2013 feels different that the others,” writes Pam Danziger, president of Unity Marketing, in its report. “It has all the markings of a sustainable recovery that will give affluents the confidence to spend more freely through the end of the year"