Luxury postponed for better times

The value of world market of luxury goods in 2009. opašće due to the crisis by 10 percent to 153 billion euros (223 billion dollars), estimated consultancy "Bain end company."

"Buyers of luxury products consume less, travel less and have less confidence, and change the way money is spent because, although known to remain loyal to brands, choose the" less expensive "products, said associate these houses Claudia d'Arpicio .

According to this estimate, the fall in the first half amounted to between 15 and 20 percent, while the situation in the second half of the year should be repaired. In the previous assessment of the same consulting company, the luxury market this year should be recorded fall between three and seven percent.

Žoel Mongolfi, director of research in the "Bain", says the luxury and high prices "are no longer synonyms" and adds that consumers are looking for good things and waiting for discounts. It also states that buyers looking for expensive goods "diskretnije products" because it "came out boasting of fashion."

Despite everything, it seems that the effect of the financial crisis will not make superbogate to reduce spending on small things, such as cars, jewelry, clothing, even though their property does not write very best. As in an interview for "Lux magazine Conversation cheerfully explained:" Luxury is part of culture and personal situation and way of existence, he is someone to be, and therefore such values can not be abandoned just because some negligent financial directors in the United States started this crazy financial crisis? Last week I bought the 'Hermes' purse, and I have no intention either to cancel planned Christmas cruise. "

The site mentioned journals supplier of luxury goods group discusses impacts of the crisis. "Luxury is a special world, a world of dreams," says one. "The financial crisis may not affect him. On the contrary, it seems that the luxury goods sector is in fact a haven for luxury goods since customers always know what you get when buying luxury goods, "as others. "Those who consume the 'affordable' luxury reduce the consumption, which is not true for those who buy a real luxury," are just some of the comments and conclusions that can be found on this site.

However, in Australia, they say, consumers are buying all the additional delay for better times. The money kept firmly in their pockets to spend only the most basic needs. Going to replace the pleasant restaurant meals at home with a bottle of good wine to them in the store costs three times cheaper. Favorite driver, and furniture, do not change, nor buy anything new because, believe, can persist until you see how things develop and what will be.

In a study of the Institute of luxury, says that people will buy only those things that they believe have real value. When it comes to the rich, it will be the most modern and best quality goods, for the rest of us will be things that are cheap and have a tendency to fall apart immediately after they buy. The blow will experience luxury brands that have made a compromise when it comes to quality in order to come closer to the middle class. Such an oxymoron - "affordable luxury" - could be held during the boom years, but now seems to be dissolved.

Impact of crisis on the luxury is evident even in the Russian capital, worldwide known for its overly expensive restaurants, traffic congested luxury cars and penchant for excess. Although it is considered that Moscow is the fourth in the world by buying luxury goods and equipment, the Russian industry, whose value is between 3.1 and 6.17 billion euros (4.5 billion dollars and nine), expected profit decline for even one third.

Luxury goods manufacturers are faced with a declining trend of prices and promotional price reductions to decide which retail firms and expensive department stores, and such a situation affects business outcomes largest luxury brands.

Italian fashion house Prada, "has announced that it was in 2008. recorded a decline in profits by 22 percent. French luxury group in the sector, "Louis Viton Moet Enes (LVMH) previously announced that in the first quarter of this year had almost no sales growth that saw a drop in the sector of wine and spirits, watches, costume jewelery, perfume and cosmetics.

The fact that the "Chanel" decided to cancel the prestigious, but very expensive world fashion show is the latest sign that the glory of luxury industry began to fade due to crisis. And that was postponed for better times.