From: Inc.
Why You Don’t Need Rich Customers to Sell Luxury Goods
June 13, 2014
Inc.:
Being a luxury brand isn’t what it’s cracked up to be, at least according to the The Wall Street Journal’s Justin Lahart. The success that companies selling goods to affluent Americans have enjoyed, he argues, has its limits.
Lower- and middle-class Americans’ household income has been plummeting in recent years, according to data from the Census Bureau cited by the Journal. As a result, brands like JC Penney and Wal-Mart that cater to less privileged demographics have seen their stocks languish. Companies such as Whole Foods and Michael Kors Holdings selling higher-end goods are faring much better, but Lahart makes the case that “there is only so much affordable luxury to go around.”
Read the whole story: Inc.
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